Snowflake Inc.- 3 Things To Know

But what does this company do?

Snowflake is in the business of data storage and analytics.

While most of us know how to store data, be it documents, raw spreadsheets, or even images on our cloud drive, Snowflake takes it a step further, by allowing corporate users to store and analyze data using cloud-based hardware and software.

There is a saying that "data is the new gold".

There are some truths to it.

So to store this new gold, you need storage spaces. This is where Snowflake's Data Warehouse, and Data Lake comes to the picture.

On top of that, this new gold can be utilized for collaboration and data engineering.

This may even lead to data science & ml and even applications.

Lastly, to ensure everything is protected and guarded, you need security.

Snowflake currently has a dip in all 4 categories right now.

Snowflake has been a hypergrowth stock. Its topline grew 69% from FY 22 to FY 23.

In terms of Q4'23 growth versus Q4'22, it achieved a 53% YoY growth.

Does this stock pique your interest?

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