Reported about 1 year ago
Snowflake stock (NYSE: SNOW) is currently at or near all-time lows in both stock price and valuation metrics, down over 30% this year. While approaching an all-time low may indicate underlying issues with the business, Snowflake's financials appear strong, with product revenue increasing by 34% YoY and substantial growth in future business contracts. Although management's projections hint at a slowdown, historical data suggests Snowflake consistently outperforms its own expectations. Despite the current challenges and unprofitability, Snowflake's stock price-to-sales ratio is at its lowest level ever, making it a potentially good long-term investment, albeit requiring patience for significant gains.
Source: YAHOO