Is Snowflake Stock a Buy After Its Q4 Earnings?
Data is becoming a foundational component to drive decision-making for businesses of all sizes. One of the biggest problems businesses face is that their data is housed in disparate systems, also called data silos.
For example, customer records may sit inside a customer relationship management system such as Salesforce, while financial data may be kept inside of Oracle. As a result, companies end up with loads of unused, disconnected data, which presents a problem for those in leadership positions.
According to research from IDC, 80% of data will be unstructured by 2025. Many companies are beginning to adopt an increased sense of urgency regarding digital transformation. One company that seems to be taking the big-data world by storm is Snowflake (NYSE: SNOW). Following the largest software IPO of all time in September 2020, the company has seen its stock plummet 33% this year. Let's dive in and see if the sell-off is warranted.
Source Fool.com
