Snowflake Drops Most in Five Months Amid Cautious Analyst Report By Esha Dey
Tiger Newspress2021-08-20
(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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
