Snowflake Looks Like a Great Buy in This Stock Market Blizzard

Adam Spatacco, The Motley Fool
·5 min read
Snowflake Looks Like a Great Buy in This Stock Market Blizzard

After the largest software IPO of all time in September 2020, enterprise software provider Snowflake (NYSE: SNOW) has started to get the cold shoulder from its investors. While the first quarter illustrated robust revenue growth, primarily driven by improving unit economics of customer expansion, the stock is down over 50% year to date. For the first quarter of fiscal 2023, which ended April 30, 2022, Snowflake reported total revenue of $422 million, an increase of 85% year over year.

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