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Snowflake Is Still Priced for Perfection

TheMotleyFool

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Snowflake Is Still Priced for Perfection: https://g.foolcdn.com/editorial/images/734075/snow_sankey_q12024.png

Snowflake (NYSE: SNOW) just left investors out in the cold.

The data warehousing specialist had long been among the fastest growers in cloud computing, but its first-quarter earnings report shows that it can't escape the broader challenges in the sector. Snowflake offered disappointing guidance in its first-quarter earnings report, sending the stock down 17% on the news as the company forecast a significant decline in revenue growth over the remainder of the year.

Product revenue in the first quarter grew 50% to $590.1 million, and overall revenue rose 48% to $623.6 million, which topped estimates at $608.4 million.

Source Fool.com

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