Snowflake Inc Stock Price, News & Analysis

Snowflake (NYSE: SNOW) announced it received a perfect recommend score in the 2021 Wisdom of Crowds Analytical Data Infrastructure Market Study, with 100% of customers recommending the company for four consecutive years. Snowflake ranked as an Overall Leader in the Customer Experience Model, highlighting its high scores in scalability, usability, and technical support. Additionally, it achieved the rank of Credibility Leader, confirming strong customer confidence and value perception. The study evaluates vendors on various criteria, reinforcing Snowflake's commitment to customer satisfaction.

Snowflake (NYSE: SNOW) is set to announce its financial results for the fourth quarter and full year of fiscal year 2021, concluding on January 31, 2021. The results will be released on March 3, 2021, after the U.S. market closes. Following the release, Snowflake will host a conference call at 2 p.m. Pacific Time to discuss these results. Participants can register for the call or access a live webcast via Snowflake's Investor Relations website.

Snowflake Computing (NYSE: SNOW) has partnered with Saturn Cloud to enhance data science and machine learning capabilities. The alliance integrates their products, allowing users to leverage Python for accelerated machine learning processes. Saturn Cloud's recent benchmark showed a remarkable 2000x faster runtime than traditional tools. The partnership aims to simplify data loading and enhance performance, with Snowflake's platform providing a seamless experience across multiple clouds. This strategic move positions both companies to capitalize on the growing demand for efficient data-driven decision-making.

Snowflake announced a remarkable growth of over 300% in the total number of data providers on its Data Marketplace since April 2020. Key features include seamless access to live data without costly integrations, enabling data professionals to gain insights faster. Users can now access over 350 datasets from 120 providers, with 26% of datasets being open for all customers. Leading brands such as DoorDash and Pacific Life Insurance are already benefiting from this enhanced data accessibility, facilitating better decision-making and operational efficiency.

Snowflake, the Data Cloud company, has been added to the NASPO ValuePoint Cloud Solutions contract with Carahsoft Technology Corp. This partnership enables Carahsoft to provide Snowflake’s Data Cloud technology to state and local governments as well as educational institutions. The collaboration aims to enhance data mobilization and improve citizen services by offering secure data sharing and integrated platform capabilities. NASPO ValuePoint’s cooperative purchasing program ensures competitive pricing and high-quality contracts for public entities.

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Snowflake (NYSE: SNOW) reported a strong third quarter of fiscal 2021, ending October 31, 2020, with total revenue of $159.6 million, reflecting 119% year-over-year growth. Product revenue reached $148.5 million (115% YoY growth), and remaining performance obligations soared to $927.9 million (240% YoY growth). The net revenue retention rate was an impressive 162%. Despite a GAAP operating loss of $169.5 million and free cash flow usage of $37.9 million, the company's customer base grew to 3,554, with 65 customers generating over $1 million in product revenue.

Snowflake has launched its inaugural global Startup Challenge, encouraging early-stage organizations to innovate within the Snowflake Data Cloud. Participants will submit their applications for a chance to be one of three finalists, who will pitch at the Snowflake Summit in Summer 2021. The winner could secure up to $250,000 in investment and gain access to a global network. This initiative is set to showcase the innovative potential of startups while allowing them to utilize Snowflake’s resources to accelerate their data application development.

Snowflake (NYSE: SNOW) has announced significant updates to its Data Cloud, enhancing customer value through new features. These include Snowpark, which streamlines developer experience, Data Services on Snowflake Data Marketplace that allows live access to third-party data sets, and support for unstructured data management. Additionally, customers can implement Row Access Policies to improve data governance. These innovations aim to eliminate data silos and drive better business outcomes.