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Snowflake Inc (NYSE:SNOW) is trading significantly lower Friday after Cleveland Research released a note to clients warning that the company is showing signs of slowed growth from its previous quarter, according to reports.
During its analyst day on June 10, Snowflake laid out a path to $10 billion in product revenue by fiscal 2029.
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Snowflake is a data lake, warehousing and sharing company with more than 3,000 customers.
The data company is scheduled to announce its second-quarter fiscal 2022 financial results on Aug. 25.
Price Action: Snowflake has traded as high as $429 and as low as $184.71 since its IPO in September.
At last check Friday, the stock was down 9.06% at $254.17
Photo: courtesy of Snowflake.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.