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How to buy shares in Snowflake (SNOW)

The balance sheet looks promising for this US cloud-based data warehouse’s IPO.

Snowflake’s stock is now available to purchase on the New York Stock Exchange (NYSE). Here’s how you can buy in from New Zealand.

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How to buy shares in Snowflake from New Zealand

Here’s what to expect of the investment process:

  • Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  • Open and fund your trading account. Complete an application with your personal and financial details, like your ID and bank information.
  • Search for Snowflake. Find the stock by name or ticker symbol: SNOW. Research its history to confirm it’s a solid investment against your financial goals.
  • Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Snowflake stock reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  • Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy a fractional share of Snowflake, depending on your broker.
  • Check-in on your investment. Congratulations, you own a part of Snowflake. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

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To buy stock, you’ll need to open a trading account that offers US shares. Compare your options using the table below to find the best fit.

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What we know about Snowflake’s balance sheet

Snowflake raised US$450 million in its Series F funding round in 2018 and another US$479 million in its Series G earlier this year. Its most recent valuation sat at a sizable US$12.5 billion.

So, what does the company’s balance sheet look like following the influx of capital?

Snowflake reported US$96.6 million in revenue for fiscal 2019 followed by US$264.7 million in revenue for fiscal 2020. Snowflake is growing, that much is clear. But whether it’s profitable is a different story. Snowflake reported net losses of US$178 million in 2019 and US$348.5 million in 2020.

But here’s the good news: Snowflake’s losses are falling. In Q2 2019, the company reported a net loss of US$177.2 million, while in Q2 2020, net losses sat at US$171.2 million. And the company reported 121% year-over-year growth for Q2 — a promising figure for interested investors.

Snowflake investment risks

Snowflake competes with the likes of Amazon Web Services, Microsoft Azure and Google Cloud. And complicating this already competitive landscape is the fact that Snowflake actually relies on its competitors for storage and computing power.

US news network CNBC reports that 85% of Snowflake’s workloads are housed on Amazon Web Services, with the other 15% split between Microsoft Azure and Google Cloud. It’s not easy to undercut and outperform a competitor when you rely on them to keep you in business.

The bottom line is that Snowflake isn’t the only company trying to capitalize on the shift from traditional data storage to the cloud. There are some big-name players on the field and competition in the tech sector is notoriously fierce.

Snowflake compared

Snowflake is a cloud-based platform that helps businesses securely house and analyze their data. It was founded in 2012 and is headquartered in San Mateo, California. It has over 3,000 customers — 56 of which are accounts worth over US$1 million, including Cisco and Capital One. The platform facilitates over 500 million queries daily.

Snowflake is not an accredited business with the North American Better Business Bureau (BBB) from which it receives an F rating for failing to respond to a complaint.

How are similar stocks performing?

Snowflake is frequently compared to Apple, Amazon and Google, but these companies do much more than cloud-based data storage. Companies that exclusively focus on the type of service Snowflake offers include Cloudera, Teradata and MongoDB, but these companies haven’t been performing as well. Examining these competitor stocks can help you gauge how the market is doing but aren’t a direct indicator of how Snowflake will perform.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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