(Update: August 20, 2021 at 10:37 a.m. ET)
(Aug 20) Snowflake shares drop as much as 11% on Friday, SNOW US Equity biggest intraday decline since March, after a Cleveland Research Graphic Dashboard» report said the company’s signings growth slowed from 1Q, while consumption growth was likely similar, at best, to 1Q levels.
The report also said that the company’s partners were seeing sales cycles elongate on increased competition from the hyperscalers, particularly Google’s BigQuery Cleveland does not formally cover SNOW and does not have an investment opinion.
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