"Shares of cloud-based storage solutions provider Snowflake Inc. (NYSE: SNOW) lost 6.26% over the past month after losing 5.34% the month prior. Since hitting its year-to-date low on April 4, the stock is up nearly 74%, bringing its year-to-date gain to 44.02%. When the company reported Q3 earnings on Nov. 20, it beat on the top and bottom lines with EPS of 20 cents exceeding expectations of 15 cents, and revenue of $942.1 million exceeding expectations of $898.5 million."
"Big Data is big business, and the companies that provide cloud storage solutions are at the forefront of an explosive industry. Snowflake is the quintessential example. Despite having to face cloud-based data warehousing competitors such as Google BigQuery, a subsidiary of Alphabet Inc. (NASDAQ: GOOGL), or Redshift, a business division of Amazon Inc. (NASDAQ: AMZN), the company is well-positioned to take advantage of the $602.31 billion industry's projected growth."
"In addition to its data management services, Snowflake provides clients with customized infrastructure solutions, a pay-as-you-go pricing model, scalability, low to no latency as well as analytics capabilities. In doing so, the Bozeman, Mont.-based company has amassed a $71.10 billion market cap. However, its stock has struggled since 2021 when it hit its all-time high of $392.15 per share, falling 36.25% since."
Snowflake reported Q3 EPS of $0.20 and revenue of $942.1 million, both above expectations, and the stock recovered strongly from an April low, rising nearly 74% year-to-date. The company offers cloud-based data management, customized infrastructure, pay-as-you-go pricing, scalability, low latency, and analytics capabilities. Snowflake competes with Google BigQuery and Amazon Redshift while operating within a cloud computing market forecast to grow at a global CAGR of about 21.2% from 2024 to 2030. The company carries a roughly $71.10 billion market capitalization, though its share price remains below its 2021 all-time high.
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