pingingz
Snowflake Inc. (NYSE:SNOW) is down 31% in 2024 as the cloud-based data warehousing and analytics platform amid slowing growth and a changed in leadership earlier this year.
Snowflake’s Chief Executive Officer stepped down after leading the cloud company for five years and was replaced by another executive with artificial intelligence experience. These developments have led to growing selling pressure for Snowflake, but the chart picture has improved lately and it looks as if the stock has already bottomed out.
With investor sentiment improving and Snowflake generating substantial free cash flow from its data platform, I think that SNOW is poised to re-rate even higher.
Sales Trajectory And Free Cash Flow Upscaling
Snowflake is a data cloud vendor with a specialization in data warehousing, storage, analytics, scalability and integration. Snowflake’s customers can use the platform to store complex data in an encrypted…
