Snowflake (NYSE: SNOW) has established itself as a leader in a promising corner of the data services industry, but its stock has faced some intense pressures lately. Facing decelerating sales growth and macroeconomic pressures that have generally caused investors to be more risk-averse, the company's share price has fallen roughly 64% from its high.

Should you be buying this innovative company's shares on the heels of its big valuation pullback, or is there still too much downside risk to make it a worthwhile investment? Read on for a look at bullish and bearish factors, and dynamics that could shape the data specialist's long-term stock performance. 

Snowflake's Data Cloud platform makes it possible to combine and analyze data generated across Amazon, , and 's respective cloud infrastructure services. The company also provides data-marketplace and application-building services. More than ever before, enterprises are relying on analytics to shape business strategies and power applications, and Snowflake's technology is making it possible for customers to get a data picture that's far more complete. 

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Source Fool.com