Why Snowflake Stock Declined by 11.7% in March

Royston Yang2021-04-08

What happenedShares of Snowflake (NYSE:SNOW) declined by 10.1% in March, according to data provided by S&P Global Market Intelligence.The data cloud company saw its share price soar to a high of $390 ...

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VONNE
2021-04-15
VONNE
Like this pls
Alfred1007
2021-04-09
Alfred1007
Need to buy at reasonable price and hold
ARKDonald
2021-04-08
ARKDonald
[开心]

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Gross profit margin also improved from 56% to 59%, and the company reported 73% year-over-year growth in its customer base to reach 4,139 customers. But investors may have been disappointed by the larger net loss incurred by Snowflake despite its soaring revenue. Net loss widened from $348.5 million to $539.1 million and the company also reported negative operating cash flow. These factors, coupled with a sell-off in technology stocks last month, probably accounted for the decline in the company's share price.Now whatInvestors should be patient with Snowflake, though, as the company has reported strong customer metrics. Customers with over $1 million in product revenue surged by 88% year over year to 77, while its dollar-based net revenue retention rate stood at an impressive 168% for the quarter. Snowflake continues to broaden its base of working partners, with the recent addition of Qlik onto its platform. 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