Why Snowflake Stock Declined by 11.7% in March

why snowflake stock declined by 11 7 in march

Sumary of Why Snowflake Stock Declined by 11.7% in March:

  • So what Snowflake’s fourth-quarter and full-year 2020 earnings report last month showed that revenue more than doubled year over year from $264.7 million to $592 million..
  • 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..
  • Now what Investors 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….

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