Snowflake Dips Below Its IPO Price: Is It Time to Buy or Sell?
Snowflake's (NYSE: SNOW) stock plunged 15% on Aug. 22 after it posted its latest earnings report. For the second quarter of fiscal 2025, which ended on July 31, the cloud-based data warehousing company's revenue rose 29% year over year to $869 million and cleared analysts' estimates by $19 million. Its adjusted net income fell 21% to $64 million, or $0.18 per share, but still beat the consensus forecast by two cents.
Snowflake exceeded Wall Street's expectations, but its declining retention rates, dim outlook, and recent data breach all weighed down the stock. CEO Frank Slootman's abrupt departure in February and Berkshire Hathaway's recent exit from the stock cast even more dark clouds over its future. Snowflake now trades slightly below its IPO price of $120, but is it the right time to buy or sell the stock?
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Source Fool.com
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