Is Snowflake (SNOW) stock a buy now? Should you buy SNOW stock? I provide Snowflake stock analysis from over 30 hours of due diligence. Since the Snowflake IPO, $SNOW stock rallied to $429, before crashing down to the $220 range. The SNOW IPO was a blockbuster unicorn stock for 2020, but is SNOW a buy in 2021? Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service". It allows corporate users to store and analyze data using cloud-based hardware and software. SNOW is technically NOT a Software-As-A-Service (SaaS) stock. I explain why. 93% of revenue is consumption-based. Snowflake provides a data warehouse-as-a-service or database-as-a-service (DaaS) that claims to dramatically simplify concurrency, performance, and overhead challenges, offering both reduced cost and improved agility. Snowflake stock is a Berkshire Hathaway (Warren Buffett) backed company. Apple, Nike, Mastercard, and many others. Snowflake has 75 large, strategic accounts working towards migration, and SNOW won the business from 19 Fortune 500 companies last quarter. Can Snowflake stock help boost your stock market portfolio gains? High growth investing!
One very interesting development for long term growth is Snowflake's Data Cloud. I cover this in the video. Here is some info from the press release: "BlackRock (NYSE:BLK) and Snowflake (NYSE:SNOW) today announced a strategic partnership to deliver a next-generation solution for the investment management industry. BlackRock will launch Aladdin Data Cloud, a solution for investment managers to expand the utility of data, powered by Snowflake’s platform. The Aladdin Data Cloud will be a strategic part of Snowflake’s Data Cloud and a part of the Aladdin platform. The solution allows companies to bring Aladdin and non-Aladdin data together making it easy for users to build on top of it with Aladdin Studio, BlackRock’s platform for developers. By bringing together Aladdin, a leader in investment management technology, and Snowflake’s Data Cloud, the Aladdin Data Cloud allows its clients to expand the utilization of data across their organization unlocking creativity and increasing operational efficiency." “Aladdin has been on a journey for three decades to put data at the heart of the investment process. We’re excited to be working with Snowflake’s innovative technology as we enter the next phase of that journey,” said Rob Goldstein, COO of BlackRock. “Today, each client is able to customize on top of Aladdin and with their instance of Aladdin Studio and the Aladdin Data Cloud, they will have more powerful tools than ever at their disposal.” Snowflake’s founders started from scratch and built a data platform that would harness the immense power of the cloud. But their vision didn’t stop there. They engineered Snowflake to power the Data Cloud, where thousands of organizations have seamless access to explore, share, and unlock the true value of their data. SNOW earnings: Snowflake (NYSE: SNOW), the Data Cloud company, today announced financial results for its fourth quarter and full year of fiscal 2021, ended January 31, 2021. Tweet: “We finished our fiscal year with strong performance and reported triple-digit product revenue growth” "Revenue for the quarter was $190.5 million, representing 117% year-over-year growth. Product revenue for the quarter was $178.3 million, representing 116% year-over-year growth. Remaining performance obligations were $1.3 billion, representing 213% year-over-year growth. Net revenue retention rate was 168% as of January 31, 2021. The company now has 4,139 total customers and 77 customers with trailing 12-month product revenue greater than $1 million. See the section titled “Key Business Metrics” for definitions of product revenue, remaining performance obligations, net revenue retention rate, total customers, and customers with trailing 12-month product revenue greater than $1 million. “We finished our fiscal year with strong performance and reported triple-digit product revenue growth,” said Snowflake CEO, Frank Slootman. “Remaining performance obligations showed a robust increase year-on-year, reflecting strength in sales across the board. Coupled with this rapid growth, we saw improving operating efficiency while expanding our footprint globally. These results indicate that customers across multiple industries rely on the Snowflake Data Cloud to mobilize their data and enable breakthrough data strategies.” I also discuss the relationship between Frank Slootman, CEO and Michael Scarpelli, CFO. They worked together at ServiceNow and Data Domain.
Disclaimer: The information should not be considered legal or financial advice.
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