Promoted For
Overall Trading Platform

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated
Promoted For
Overall Trading Platform
Promoted For
CFD Provider
Promoted For
Advanced CFD Traders
Snowflake’s stock is now available to purchase on the New York Stock Exchange (NYSE). On August 24, Snowflake filed an S-1 with the U.S. Securities and Exchange Commission. It listed its Class A common stock on the New York Stock Exchange under the ticker symbol “SNOW.” The suggested share price is $100 to $110 and the deal is being underwritten by Goldman Sachs, J.P. Morgan and Citigroup, among others. It went live on September 16. Here’s how you can buy in.
Here’s what to expect of the investment process:
Snowflake raised $450 million in its Series F funding round in 2018 and another $479 million in its Series G earlier this year. Its most recent valuation sat at a sizable $12.5 billion.
So, what does the company’s balance sheet look like following the influx of capital?
Snowflake reported $96.6 million in revenue for fiscal 2019 followed by $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 $178 million in 2019 and $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 $177.2 million, while in Q2 2020, net losses sat at $171.2 million. And the company reported 121% year-over-year growth for Q2 — a promising figure for interested investors.
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.
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 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 $1 million, including Cisco and Capital One. The platform facilitates over 500 million queries daily.
Snowflake is not an accredited business with the Better Business Bureau (BBB) from which it receives an F rating for failing to respond to a complaint.
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.
We asked 47 experts for their cryptocurrency price predictions and took a deep dive into the Bitcoin price rally.
This vacation-rental giant has finally gone public. Learn how to invest in Airbnb in Singapore.
Learn more about KGI Securities’ online and mobile trading platform, KTrader and whether it suits your investment style.
If you’re an international student in Singapore, having a local bank account can help you manage your finances with ease.
Sulphate free shampoos will have your hair looking sleek and shiny, and you are helping your health and the enviornment.
Learn more about the YFI cryptocurrency in this beginner’s and buyer’s guide.
When you’re shopping for customised face masks online, these retailers don’t disappoint.
Keep you and your family safe with clear face masks. Purchasing online is easy and we have found you the top 8 stores.
Discover how to save money when you use these handy money-saving apps.
DBS, OCBC, AMEX, Standard Chartered, Revolut plus many more banks in Singapore offer Google Pay. See the full list of supported banks in this guide.