Snowflake Looks Like a Great Buy in This Stock Market Blizzard
After the largest software IPO of all time in September 2020, enterprise software provider Snowflake (NYSE: SNOW) has started to get the cold shoulder from its investors. While the first quarter illustrated robust revenue growth, primarily driven by improving unit economics of customer expansion, the stock is down over 50% year to date. However, since reporting earnings in late May, Snowflake stock has seen a modest uptick, up 16% in the last month.
Let's dig into the company's first-quarter financials, as well as management's commentary regarding future growth prospects. After analyzing the data, the picture may be more clear that Snowflake's current valuation could be a buying opportunity for long-term investors.
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Source Fool.com
