Snowflake Stock Doesn't Inspire Much Confidence
Snowflake(SNOW) Seeking Alpha·2024-08-28 16:18
Steven Errico/DigitalVision via Getty Images My Thesis Snowflake (NYSE:SNOW) has become something of a controversial stock lately: the company has continued to grow revenue by about 30% on a YoY basis, but at the same time, the stock is down more than 40% YTD. This scenario could tempt some investors and analysts to buy this heavy dip. They could be right, but given recent trends, I see no reason to take risks now - we need confirmation that sales growth has bottomed out and that bottom-line profitabili ...