Snowflake (NYSE: SNOW) was founded in 2012, and its short history is jam-packed with innovation. The company reshapes the way businesses use data and develop applications, and it's currently breaking new ground in the artificial intelligence (AI) arena. Snowflake stock went public in 2020 with an impressive list of investors, including Berkshire Hathaway, the conglomerate run by Warren Buffett.

But share prices have declined 61% since hitting their all-time high in late 2021, and they might still be expensive based on at least one traditional valuation metric. Investors seem to be concerned about slowing revenue growth, which could get worse given management just reduced its guidance for the full fiscal 2024 year (ending Jan. 31, 2024).

Could this be a buying opportunity for investors?

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Source Fool.com