Snowflake Stock Is Moving Higher After Hours: Here's Why

Snowflake Inc (NYSE:SNOW) shares are rising in Tuesday’s after-hours session in sympathy with peer MongoDB Inc (NASDAQ:MDB) stock, which surged after reporting better-than-expected financial results for the second quarter.

SNOW stock is showing exceptional strength. See the trading setup here.

What Happened With MDB: MongoDB beat analyst estimates on the top and bottom lines in the second quarter, reporting revenue of $591.4 million versus estimates of $552.46 million, and adjusted earnings per share of $1 versus estimates of 66 cents.

MongoDB said it has added over 5,000 customers year-to-date. The company also issued strong guidance for the third quarter and raised ...