Snowflake: Worst Fears Were Confirmed
SNOWSnowflake(SNOW) Seeking Alpha·2024-08-26 08:00
enter89Snowflake Inc. (NYSE:SNOW) entered earnings in a precipitous place, facing decelerating growth after multiple cyberattacks hit confidence in the business. The AI data company confirmed the fears, sending the stock back to test the lows. My investment thesis remains Bearish on the stock with no turnaround in sight and a stretched valuation, as if the company was still producing premium growth rates. Sales Deceleration While Snowflake spent the majority of the earnings call discussing new AI techno ...