Snowflake caught in the storm clouds
from Breaking Analysis with Dave Vellante Hosted by SiliconANGLE
A better than expected earnings report in late August got people excited about Snowflake again but the negative sentiment in the market has weighed heavily on virtually all growth tech stocks. Snowflake is no exception. As we’ve stressed many times, the company’s management is on a long term mission to simplify the way organizations use data. Snowflake is tapping into a multi-hundred billion dollar total available market and continues to grow at a rapid pace. In our view the company is embarking on its third major wave of innovation, data apps, while its first and second waves are still bearing significant fruit. For short term traders focused on the next 90 or 180 days, that probably doesn’t matter much. But those taking a longer view are asking, should we still be optimistic about the future of this high flier or is it just another over-hyped tech play? In this Breaking Analysis we take a look at the most recent survey data from ETR to see what clues and nuggets we can extract to predict the near future and the long term outlook for Snowflake.
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What this episode covers
A better than expected earnings report in late August got people excited about Snowflake again but the negative sentiment in the market has weighed heavily on virtually all growth tech stocks. Snowflake is no exception. As we’ve stressed many times, the company’s management is on a long term mission to simplify the way organizations use data. Snowflake is tapping into a multi-hundred billion dollar total available market and continues to grow at a rapid pace. In our view the company is ...
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