Snowflake's stock has dropped almost 60% over the past 12 months amid concerns about software valuations, but Wells Fargo is feeling upbeat about the future.
Snowflake Inc. shares have dropped almost 60% over the past 12 months amid concerns about software valuations as well as the outlook for consumption-based software companies in a choppier economic environment, but Wells Fargo’s Michael Turrin thinks that the data-warehousing name can still thrive.
In... Snowflake Inc. shares have dropped almost 60% over the past 12 months amid concerns about software valuations as well as the outlook for consumption-based software companies in a choppier economic environment, but Wells Fargo’s Michael Turrin thinks that the data-warehousing name can still thrive.
In Turrin’s view, Snowflake’s focus on “mission-critical technology” helps insulate it, and the company can also capitalize on “strong expansion dynamics.”
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