Is Snowflake Stock a Buy Now?
Shares of Snowflake (NYSE: SNOW) have been in the doghouse for the majority of 2024 as concerns regarding the data cloud platform provider's slowing growth and expensive valuation have weighed on the stock, but its latest quarterly results have infused new life into this beaten-down technology company.
Snowflake stock shot up nearly 33% following the release of its fiscal 2025 third-quarter results (for the three months ended Oct. 31) on Nov. 20. Let's see why that was the case and check if now is a good time to buy this technology stock in anticipation of more upside.
Snowflake reported fiscal Q3 revenue of $942 million, an increase of 28% from the same quarter last year, driven by a 29% increase in its product revenue to $900 million. The company's revenue was well ahead of analysts' expectations of $897 million. Meanwhile, its non-GAAP earnings came in at $0.20 per share. Though that was lower than the year-ago period's reading of $0.25 per share, its earnings were well ahead of the $0.15 per share consensus estimate.
Source Fool.com
