Snowflake 2024 Analyst Day Takeaways – It’s All About The Revenue Per Query


  • Snowflake’s stock has fallen 34% year-to-date following the retirement of its ex-CEO and a slowdown in revenue growth.
  • The company’s new product roadmap and strategy, outlined in its Analyst Day presentation, indicate potential for increased data access per product module, leading to higher revenue generation.
  • Despite commentary from Salesforce and MongoDB, Gartner still points to sustained spending in cloud software, indicating seasonality, which may have been priced in regarding Snowflake.
  • Current pessimism discounts the opportunity for increased revenue gains sourced from the company’s revenue-per-query business model, creating upside in the stock.

Data Networking

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Investment Thesis

Snowflake (NYSE:SNOW) finds itself in an unfamiliar place nowadays.

The maker of cloud data services and products has seen the pace of growth in its widely appreciated namesake cloud data product platform slow down

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in SNOW over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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