Snowflake Inc (NYSE:SNOW) is trading significantly lower Friday after Cleveland Research released a note to clients warning that the company is showing signs of slowed growth from its previous quarter, according to reports.
During its analyst day on June 10, Snowflake laid out a path to $10 billion in product revenue by fiscal 2029.
Snowflake is a data lake, warehousing and sharing company with more than 3,000 customers.
The data company is scheduled to announce its second-quarter fiscal 2022 financial results on Aug. 25.
Price Action: Snowflake has traded as high as $429 and as low as $184.71 since its IPO in September.
At last check Friday, the stock was down 9.06% at $254.17
Photo: courtesy of Snowflake.
