Snowflake: It Would Be Wise To Stay On The Sidelines

2026-03-21 02:11:06 ET

In early January, after a deep look at the fundamentals, I reiterated my hold rating on Snowflake Inc. ( SNOW ). While the demand for AI cloud solutions was robust, as demonstrated by accelerating RPO growth, the stock was unattractively valued as the forward P/E neared a reading of 200. As shown below, I stated that there was little opportunity at that valuation. Since then, Snowflake has seen significant weakness, and with the company having reported their results just in late February, today we'll take another look to see whether now is the time for investors to accumulate.

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