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Is It Too Late to Buy Snowflake Stock?

TheMotleyFool

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Is It Too Late to Buy Snowflake Stock?Photo, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Snowflake's (NYSE: SNOW) stock jumped 7% on Thursday after the cloud-based data warehouse provider posted its latest earnings report. For its fiscal 2024 third quarter, which ended on Oct. 31, revenue rose 32% year over year to $734 million, beating analysts' consensus estimate by $21 million. Its adjusted net income surged 134% to $90 million, or $0.25 per share, clearing the consensus forecast by $0.09 per share.

Those growth rates seem healthy, but is it too late to buy Snowflake's stock after its 30% rally over the past 12 months?

Image source: Getty Images.

Source Fool.com

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