As long-term investors, it's important to envision what a business may be like in the future because that's why you're buying a business now; you're expecting it to grow into something better. In its life as a public company, Snowflake (NYSE: SNOW) has proliferated -- its revenue is up 362% since late 2020 -- yet the stock is down 42% from its IPO date.

Usually, those two metrics don't negatively correlate as Snowflake's have, but it sets the stage for an exciting investment. Will Snowflake continue this growth and stock decline pattern? Or will investors finally start to experience some returns? Let's find out.

While Snowflake's growth and price decline are facts, there's a missing piece: valuation. Snowflake debuted at a sky-high price-to-sales valuation of nearly 150. However, that valuation has been substantially reduced in 2022.

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Source Fool.com