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Question: 87
What is the default File Format used in the COPY command if one is not specified?
A. CSV
B. JSON
C. Parquet
D. XML
Answer: A
Explanation:
Reference: https://docs.snowflake.com/en/sql-reference/sql/copy-into-location.html
Question: 88
True or False: A Virtual Warehouse can be resized while suspended.
A. True
B. False
Answer: A
Explanation:
Reference: https://docs.snowflake.com/en/user-guide/warehouses-tasks.html#effects-of-resizing-a-suspended-
warehouse
Question: 89
What features does Snowflake Time Travel enable?
A. Querying data-related objects that were created within the past 365 days
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B. Restoring data-related objects that have been deleted within the past 90 days
C. Conducting point-in-time analysis for Bl reporting
D. Analyzing data usage/manipulation over all periods of time
Answer: C
Explanation:
Snowflake Time Travel is a feature that enables you to access historical data within a specified period, known as the
data retention period. It allows you to query data as it existed at a specific point in time, which can be useful for point-
in-time analysis, BI reporting, or data recovery in case of accidental data changes or deletions.
Question: 90
In which use cases does Snowflake apply egress charges?
A. Data sharing within a specific region
B. Query result retrieval
C. Database replication
D. Loading data into Snowflake
Answer: B
Explanation:
Snowflake applies egress charges in cases where data is transferred out of Snowflake's infrastructure, such as when
retrieving query results. These charges are typically imposed by the cloud service provider (e.g., AWS, Azure, or
Google Cloud Platform) for data transfer out of their respective data centers.
Question: 91
Which feature is only available in the Enterprise or higher editions of Snowflake?
A. Column-level security
B. SOC 2 type II certification
C. Multi-factor Authentication (MFA)
D. Object-level access control
Answer: A
Explanation:
https://docs.snowflake.com/en/user-guide/intro-editions.html
Question: 92
Which of the following is a valid source for an external stage when the Snowflake account is located on Microsoft
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Azure?
A. An FTP server with TLS encryption
B. An HTTPS server with WebDAV
C. A Google Cloud storage bucket
D. A Windows server file share on Azure
Answer: D
Question: 93
Which statement about billing applies to Snowflake credits?
A. Credits are billed per-minute with a 60-minute minimum
B. Credits are used to pay for cloud data storage usage
C. Credits are consumed based on the number of credits billed for each hour that a warehouse runs
D. Credits are consumed based on the warehouse size and the time the warehouse is running
Answer: D
Explanation:
Snowflake credits are used to pay for the consumption of resources on Snowflake. A Snowflake credit is a unit of
measure, and it is consumed only when a customer is using resources, such as when a virtual warehouse is running, the
cloud services layer is performing work, or serverless features are used. https://docs.snowflake.com/en/user-
guide/what-are-credits.html
Question: 94
Which Snowflake technique can be used to Boost the performance of a query?
A. Clustering
B. Indexing
C. Fragmenting
D. Using INDEX__HINTS
Answer: A
Explanation:
https://docs.snowflake.com/en/user-guide/tables-clustering-keys.html
Question: 95
What are the default Time Travel and Fail-safe retention periods for transient tables?
A. Time Travel - 1 day. Fail-safe - 1 day
B. Time Travel - 0 days. Fail-safe - 1 day
C. Time Travel - 1 day. Fail-safe - 0 days
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D. Transient tables are retained in neither Fail-safe nor Time Travel
Answer: D
Explanation:
Transient tables in Snowflake do not have a Time Travel retention period or a Fail-safe retention period. These tables
are designed for temporary storage and intermediate processing, and as such, they do not maintain historical data
versions or offer data protection through Fail-safe. Once the data is deleted from a transient table, it cannot be
recovered using Time Travel or Fail-safe features.
Question: 96
Which of the following are benefits of micro-partitioning? (Select TWO)
A. Micro-partitions cannot overlap in their range of values
B. Micro-partitions are immutable objects that support the use of Time Travel.
C. Micro-partitions can reduce the amount of I/O from object storage to virtual warehouses
D. Rows are automatically stored in sorted order within micro-partitions
E. Micro-partitions can be defined on a schema-by-schema basis
Answer: B,C
Explanation:
Micro-partitioning is a key feature of Snowflake's architecture, providing several benefits:
Micro-partitions are immutable objects that support the use of Time Travel. Each time data is loaded or modified, new
micro-partitions are created, preserving the previous versions of data to enable Time Travel and historical data
querying.
Micro-partitions can reduce the amount of I/O from object storage to virtual warehouses. Snowflake's query optimizer
leverages metadata about micro-partitions, such as the range of values within them, to prune unnecessary micro-
partitions from query scans. This reduces the amount of data read and improves query performance.
Question: 97
Which of the following conditions must be met in order to return results from the results cache? (Select TWO).
A. The user has the appropriate privileges on the objects associated with the query
B. Micro-partitions have been reclustered since the query was last run
C. The new query is run using the same virtual warehouse as the previous query
D. The query includes a User Defined Function (UDF)
E. The query has been run within 24 hours of the previously-run query
Answer: A,E
Question: 98
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What happens when a cloned table is replicated to a secondary database? (Select TWO)
A. A read-only copy of the cloned tables is stored.
B. The replication will not be successful.
C. The physical data is replicated
D. Additional costs for storage are charged to a secondary account
E. Metadata pointers to cloned tables are replicated
Answer: A,E
Explanation:
When a cloned table is replicated to a secondary database in Snowflake, the following occurs:
A read-only copy of the cloned tables is stored in the secondary database. This ensures that the replicated data is
consistent with the primary database and can be used for reporting, querying, or other read-only operations.
Metadata pointers to cloned tables are replicated, rather than the physical data. Snowflake's cloning operation is
metadata-based, which means that cloning a table does not create a full copy of the data. Instead, the new table
references the same underlying data as the original table. When replicating a cloned table, Snowflake replicates these
metadata pointers, ensuring efficient replication without duplicating the physical data.
Question: 99
What can be used to view warehouse usage over time? (Select Two).
A. The load HISTORY view
B. The Query history view
C. The show warehouses command
D. The WAREHOUSE_METERING__HISTORY View
E. The billing and usage tab in the Snowflake web Ul
Answer: A,D,E
Question: 100
Will data cached in a warehouse be lost when the warehouse is resized?
A. Possibly, if the warehouse is resized to a smaller size and the cache no longer fits.
B. Yes. because the compute resource is replaced in its entirety with a new compute resource.
C. No. because the size of the cache is independent from the warehouse size
D. Yes. became the new compute resource will no longer have access to the cache encryption key
Answer: C
$13$10

SnowFlake Recertification benefits - BingNews https://killexams.com/pass4sure/exam-detail/COF-R02 Search results SnowFlake Recertification benefits - BingNews https://killexams.com/pass4sure/exam-detail/COF-R02 https://killexams.com/exam_list/SnowFlake Snowflake Stock Just Soared. Why One Analyst Thinks It’s Time to Sell. No result found, try new keyword!Snowflake stock had a huge run in the last two months of 2023, rallying more than 40% to the end of the year from a late October trough. One analyst thinks the cloud-based data-warehousing software ... Thu, 04 Jan 2024 05:34:00 -0600 en-us text/html https://www.msn.com/ Snowflake boosts outlook for first time in a year — and it could be conservative

Consumption-oriented software businesses have experienced a tough accurate stretch, but Snowflake Inc. is winning cheers Thursday for showing signs of improvement.

The company signalized a stabilizing consumption environment as it handily topped earnings expectations, helping to send Snowflake shares SNOW, +2.78% up 7% in Thursday’s premarket action.

“We view a stabilized/improving consumption environment as driving revenue upside in the short term, while the company’s growing arsenal of new product introductions should begin to bear fruit over the medium-/longer-term,” Needham analyst Mike Cikos wrote, while upping his price target to $225 from $216 and keeping a buy rating on the stock.

Snowflake’s outlook came in ahead of expectations, and Truist Securities analyst Joel Fishbein mused that it could still be conservative.

“One of the themes of the call was the heavy product investments Snowflake has made the last few years, with many of these capabilities expected to become available to the broader customer base over the next several quarters,” he said.

Fishbein, who has a buy rating on Snowflake’s stock, boosted his price target to $210 from $200 in his latest note.

See also: Salesforce’s stock rises 9% on strong quarterly earnings

Others were more measured, with Bernstein’s Mark Moerdler writing that the latest beat came against lowered expectations.

“We remain concerned about Snowflake’s ability to meaningfully outperform their long term revenue guidance,” he said. “We also note that the leading indicators this quarter were still weak (deferred revenue was in-line with the street and [remaining performance obligations] missed by almost 5%), and the company is guiding to another 4-5% deceleration next quarter in revenue. Even if they beat the guide by as much as they did this quarter it would be in-line with consensus’ prior expectations.”

In Moerdler’s view, “the trough isn’t here yet.” He rates the stock at market perform with a $160 target price.

Guggenheim analyst John DiFucci titled his note to clients: “Sounds Better, Looks the Same?”

“Based on our field checks and accurate software results, it doesn’t appear that the IT spending environment is getting better, and frankly we think the macro backdrop will…likely deteriorate from here into [fiscal 2024], but a wise man recently told us that it’s as simple as this: When interest rates go down, you buy growth,” DiFucci wrote.

Snowflake, he noted, “is a growth stock and this was the first time in a year that they raised annual guidance.”

He has a sell rating on the stock, though he upped his price target to $120 from $105 early Thursday.

Thu, 30 Nov 2023 01:06:00 -0600 en-US text/html https://www.marketwatch.com/story/snowflake-boosts-outlook-for-first-time-in-a-year-and-it-could-be-conservative-eb7f617a
Why Snowflake Stock Rose 29% Last Month No result found, try new keyword!The stock got a boost early in the month, thanks to celebrated financial results from Datadog-- a company that benefits from similar business trends. Then late in the month, Snowflake reported ... Tue, 05 Dec 2023 08:27:00 -0600 https://www.nasdaq.com/articles/why-snowflake-stock-rose-29-last-month Snowflake goes all in on data clean rooms with Samooha acquisition

Snowflake is buying Samooha, a startup developing a “cross-cloud” data collaboration suite, the companies announced this morning — adding to the list of big tech acquisitions leading up to the holiday season.

With the deal, which is expected to close by the end of the month subject to customary closing conditions, Snowflake gains an established “data clean room” platform that lets businesses securely share, collaborate on and gain insights from their and their partners’ data, regardless of the underlying data stack.

Samooha, meanwhile, gets an undisclosed amount of cash and/or stock in addition to the support of Snowflake’s massive technical and engineering infrastructure. All 19 Samooha employees including CEO Kamakshi Sivaramakrishnan and co-founder Abhishek Bhowmick will be joining Snowflake in some capacity.

“This acquisition furthers our mission to mobilize the world’s data by accelerating the built-in capabilities of Snowflake’s platform for our customers,” Snowflake director of product management Carl Perry told TechCrunch via email. “Samooha customers will benefit from the many built-in platform capabilities of Snowflake, as well as the powerful network of Snowflake data cloud. Snowflake customers, meanwhile, will be able to more quickly and easily build, connect and use data clean rooms where their data already lives, directly in Snowflake.”

Los Altos-based Samooha, which Sivaramakrishnan and Bhowmick co-founded in 2022, competes in an increasingly crowded data clean room field. AWS has a data clean room product, as do startups like Herb. But Samooha’s differentiated by its heavy reliance on the Snowflake ecosystem; Snowflake, unsurprisingly, was an early investor.

A native app on Snowflake, Samooha provides a no-code UI customers can use to access and build clean room apps. The company went after verticals it believed might be especially underserved, like healthcare, financial services, advertising, retail and entertainment — and claimed to count several Fortune 500 brands in its customer base. 

Buoyed by that customer acquisition momentum, Samooha raised $12.5 million from investors, including Altimeter Capital,prior to the acquisition — valuing the startup at around $40 million post-money.

“Samooha’s founding hypothesis has been that the latest frontier of data and AI will be built on secure data sharing and collaboration foundations,” Sivaramakrishnan said in an emailed statement. “Samooha joining Snowflake enhances Snowflake’s ability to help enterprises collaborate in a seamless way, with governance, privacy and security of their data at the core. Businesses and enterprises like healthcare providers, financial institutions and large media platforms can now create strong edges of value exchange and connectivity across their respective partner and customer ecosystem.”

Investing in data clean room tech could turn out to be a lucrative decision for Snowflake — which continues to exceed investor expectations, side note — over the long run. According to Gartner, 80% of advertisers spending more than $1 billion a year on media will have used data clean rooms for applications such as analytics, measuring campaign results and easing data integration by the end of the year. Another poll published in early 2023 indicated that 29% of marketers in the U.S. would focus more on data clean rooms this year versus 2022, a prediction that certainly wouldn’t be out of the question given Snowflake’s interest.

Mon, 18 Dec 2023 05:52:00 -0600 en-US text/html https://techcrunch.com/2023/12/18/snowflake-goes-all-in-on-data-clean-rooms-with-samooha-acquisition/
10 Top Selling Snowflake Lights for 2023

Our Top Picks

Snowflake lights are a charming and popular way to brighten up your home or yard during the winter season. We've tested and researched a variety of snowflake lights products to bring you the best options available. When choosing a product, it's important to look for durability, ease of use, and clear instructions. With so many styles and sizes available, it can be overwhelming, but customer reviews can offer helpful insights. Stay tuned for our top-ranking snowflake lights products, which offer quality, durability, and value to create a magical winter wonderland.

CESOF Snowflake String Lights Battery Operated
CESOF Snowflake String Lights Battery Operated

The Christmas Lights, 20 Ft 40 LED Snowflake String Lights are a perfect addition to any holiday decor. Battery operated and waterproof, these cool white snowflake lights can be used both indoors and outdoors. With 40 LED snowflakes spread throughout the 20-foot string, these lights can easily decorate a bedroom, patio, room, garden, or Christmas tree. Their unique snowflake design adds a touch of winter wonderland to any setting. These lights are easy to install and can be a great way to bring some holiday cheer to your home.

Rated 9.7 based on 10

JPOST

Pros

Waterproof, Battery-operated, Cool white color

Cons

May not be very bright

Brightown Christmas Snowflake Lights
Brightown Christmas Snowflake Lights

The 2 Pack Christmas Snowflake String Lights are a perfect addition to your holiday decor. With 100 LED snowflakes on each 43 ft string, these lights provide a warm and festive atmosphere to any indoor or outdoor setting. The lights come with 8 lighting modes and a timing function, controlled by a remote for easy use. They are also waterproof and connectable, making them versatile and practical for any occasion. Bring some holiday cheer to your home with these beautiful and functional snowflake string lights.

Rated 9.4 based on 10

JPOST

Pros

100 LED lights, 8 lighting modes, waterproof

Kringle Traditions Folding Snowflake Lights
Kringle Traditions Folding Snowflake Lights

The Kringle Traditions 36" Folding Warm White Snowflake Decoration is a beautiful addition to any outdoor holiday display. Made with durable materials, this large snowflake decoration is designed to withstand harsh winter weather. The warm white LED lights provide off a cozy and inviting glow, making it perfect for setting the mood during the holiday season. Its folding design allows for easy storage and setup, making it a convenient option for those who want to add a touch of winter wonderland magic to their outdoor décor. Use it to decorate your front porch, lawn, or any other outdoor space to create a festive and welcoming atmosphere.

Rated 9.2 based on 10

JPOST

Pros

Folding design for easy storage, Large size for outdoor display, Warm white LED lights

Cons

May not be as bright as expected

Kringle Traditions Folding Snowflake Lights.
Kringle Traditions Folding Snowflake Lights.

The 20" Folding Cool White Snowflake Decoration LED Snowflake Lights are the perfect addition to any winter wonderland display. Made with high-quality materials, these large snowflake decorations are perfect for both indoor and outdoor use. The cool white LED lights provide off a beautiful glow, adding a touch of magic to any holiday scene. These snowflake lights are easy to set up and fold for convenient storage. Add these beautiful outdoor lighted snowflakes to your holiday decor and watch your home sparkle with festive joy.

Rated 8.9 based on 10

JPOST

Pros

Large size, Folding design, Outdoor use

Woochic Snowflake Curtain Lights
Woochic Snowflake Curtain Lights

The Christmas Snowflake Window Curtain String Lights are a perfect addition to any holiday decor. With 20ft and 40 LED fairy lights, these battery-operated waterproof lights can be used indoors or outdoors to create a cozy and festive atmosphere. The snowflake design adds a touch of whimsy and is perfect for decorating bedrooms, parties, patios, rooms, gardens, and Christmas trees. These lights are easy to set up and will make your home feel merry and bright this holiday season.

Rated 8.7 based on 10

JPOST

Pros

Battery Operated, Waterproof, Indoor/Outdoor use

Cons

Possible Short Battery Life

Kukuder Icicle Lights with Snowflake and Twinkle Modes.
Kukuder Icicle Lights with Snowflake and Twinkle Modes.

The 150 LED Icicle Lights with Snowflake and 8 Twinkle Modes Curtain Lights are a perfect addition to your holiday decorations. These hanging fairy lights provide a beautiful and festive ambiance for your outdoor Christmas lights or holiday wedding party decoration. The snowflake design adds a touch of elegance to the warm white lights and the 8 twinkle modes offer a variety of lighting options to suit any occasion. These lights are easy to hang and come with a waterproof design, making them suitable for outdoor use. Overall, these lights are a great way to create a magical and enchanting atmosphere for any holiday celebration.

Rated 8.3 based on 10

JPOST

Pros

150 LED lights, 8 twinkle modes, snowflake design

Eueasy Snowflake Lights Outdoor Battery Operated
Eueasy Snowflake Lights Outdoor Battery Operated

The Snowflake Lights Outdoor are a perfect addition to any holiday decorations. These 13ft, 40 LED fairy lights are battery operated, making them easy to use both indoors and outdoors. The snowflake design adds a festive touch to your Christmas tree, patio, garden, party, and home decor. The lights are easy to install and provide a warm, welcoming glow to any space. These lights are perfect for creating a cozy and inviting atmosphere during the holiday season.

Rated 7.9 based on 10

JPOST

Pros

40 LEDs for bright light, Indoor and outdoor use, Battery operated for convenience

Holiday Essence Snowflake Christmas Lights
Holiday Essence Snowflake Christmas Lights

The Holiday Essence Snowflake Christmas Lights are the perfect addition to your holiday decor. With 50 warm white LED lights and 8 different modes, these 25 ft indoor/outdoor string lights are battery operated for easy use. The snowflake design adds a festive touch to any space and the durable materials ensure long-lasting use. Use them to decorate your tree, mantel, or outdoor space for a cozy and inviting ambiance.

Rated 7.6 based on 10

JPOST

Pros

8 modes for variety, battery operated for convenience, indoor/outdoor use

Cons

May not be bright enough.

weillsnow Snowflake Icicle Lights Outdoor
weillsnow Snowflake Icicle Lights Outdoor

The weillsnow Snowflake Icicle Lights Outdoor are a must-have for anyone looking to add a touch of magic to their Christmas decorations. With 100 LED lights and 10 drops that can be connected, these lights are perfect for outdoor and indoor use. They come with 8 twinkle modes that can be easily adjusted to create the perfect ambiance. The lights are waterproof and can be used on eaves, windows, and other surfaces. The white color of the lights gives a classic and elegant look to your decorations. Overall, these lights are a great investment for anyone who wants to create a cozy and festive atmosphere during the holiday season.

Rated 7.4 based on 10

JPOST

Pros

100 LED lights, 8 twinkle modes, Waterproof for outdoor use

Cons

Connectable only with same model

Wintergreen Lighting LED Snowflake Light Outdoor Christmas Decoration
Wintergreen Lighting LED Snowflake Light Outdoor Christmas Decoration

The Wintergreen Lighting 28" LED Snowflake Light Christmas Decorations Outdoor Snowflake Christmas Lights are perfect for adding a festive touch to your home during the holiday season. These snowflake lights feature a 36 point star center design and are available in blue and cool white LED lights. The LED rope light provides a bright and energy-efficient glow that will last all season long. These outdoor snowflake lights are easy to install and are weather-resistant, making them ideal for outdoor use. They are also durable and built to last, ensuring that you can enjoy them for many holiday seasons to come. Add some holiday cheer to your home with the Wintergreen Lighting 28" LED Snowflake Light Christmas Decorations Outdoor Snowflake Christmas Lights.

Rated 7.1 based on 10

JPOST

Pros

Bright LED lights, Easy to install, Beautiful snowflake design

FAQ

Q: Are snowflake lights safe to use outdoors in the winter?

A: Yes, many snowflake lights are designed for outdoor use and are weather-resistant. Just make sure to check the product specifications before purchasing to ensure the lights are suitable for outdoor use in your specific climate.

Q: Can I connect multiple sets of snowflake lights together?

A: It depends on the specific product. Some snowflake lights are designed to be connected end-to-end, while others may not have this capability. Check the product specifications or contact the manufacturer for more information.

Q: Are snowflake lights energy-efficient?

A: Yes, many snowflake lights use LED technology, which is more energy-efficient than traditional incandescent bulbs. They also tend to last longer, saving you money on replacements in the long run.

Conclusions

After conducting thorough research and testing, I have found that snowflake lights are a great addition to any holiday or special occasion decoration. Whether you're looking for something to hang on your windows, decorate your garden, or add a festive touch to your bedroom, there are numerous options available. From USB fairy string lights to projector lights and battery-operated string lights, each product has its unique features and benefits. With easy-to-use remote controls and a variety of modes, you can create a warm and inviting atmosphere that will impress your guests. I highly recommend checking out these snowflake lights for your next celebration or event.

Mon, 04 Dec 2023 09:15:00 -0600 en-US text/html https://www.jpost.com/advisor/patio-lawn-and-garden/10-top-selling-snowflake-lights-776555 Snowflake Options Trading: A Deep Dive into Market Sentiment

Financial giants have made a conspicuous bearish move on Snowflake. Our analysis of options history for Snowflake SNOW revealed 21 unusual trades.

Delving into the details, we found 42% of traders were bullish, while 57% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $692,380, and 10 were calls, valued at $589,943.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $135.0 to $250.0 for Snowflake during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Snowflake stands at 970.35, with a total volume reaching 1,905.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Snowflake, situated within the strike price corridor from $135.0 to $250.0, throughout the last 30 days.

Snowflake Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNOW CALL TRADE BULLISH 09/20/24 $200.00 $140.0K 92 52
SNOW PUT TRADE BEARISH 02/16/24 $200.00 $104.0K 912 0
SNOW PUT TRADE BEARISH 02/16/24 $190.00 $99.0K 568 121
SNOW PUT SWEEP BULLISH 01/19/24 $197.50 $95.0K 231 104
SNOW CALL TRADE BEARISH 01/17/25 $250.00 $91.5K 845 51

About Snowflake

Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers. Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to easily buy and ingest data almost instantaneously compared with a traditionally months-long process. Overall, the company is known for the fact that all of its data solutions that can be hosted on various public clouds.

Current Position of Snowflake

  • With a volume of 2,326,360, the price of SNOW is down -2.16% at $194.7.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 57 days.

Professional Analyst Ratings for Snowflake

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $240.0.

  • Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on Snowflake with a target price of $230.
  • An analyst from Piper Sandler has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $250.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Snowflake options trades with real-time alerts from Benzinga Pro.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Mon, 01 Jan 2024 23:45:00 -0600 en text/html https://www.benzinga.com/markets/options/24/01/36457300/snowflake-options-trading-a-deep-dive-into-market-sentiment
After Earnings, Is Snowflake Stock a Buy, a Sell, or Fairly Valued?

Snowflake SNOW released its third-quarter earnings report on Nov. 29. Here’s Morningstar’s take on Snowflake’s earnings and stock.

Key Morningstar Metrics for Snowflake

What We Thought of Snowflake’s Earnings

Snowflake’s third quarter was mixed, in our view. Revenue came in above our expectations while the bottom line came in under, as we had rosier expectations than the market. Encouragingly, though, full-year fiscal 2024 guidance was raised for revenue and profitability. Shares have popped 7% upon results, inching the stock somewhat closer to our $231 fair value estimate while leaving room for ample upside.

Overall, Snowflake is extremely well-positioned to benefit as the world is rapidly collecting more data, which requires both a place to live and a playground like Snowflake’s to work with to extract more value. While these are passive tailwinds, we think Snowflake’s technical expertise and execution will make it more than a passive beneficiary in data management software. We still believe the name is a top pick under our technology coverage.

Snowflake reported third-quarter revenue of $734 million and product sales of $699 million, growing by 32% and 34% year over year, respectively. Solid results came thanks to execution and a stabilizing macroeconomic environment. Management noted that they hardly hear “AI” and “budget” in the same sentence, and we think this leaves the firm in a sweet spot, with customers eager to be at the forefront of cutting-edge technology. We think this safeguards the uncertainty that can come with a consumption-based revenue model.

We think Snowflake has a clear path to reach over $22 billion in revenue by 2033, paired with GAAP operating margins past 27%. Such a trajectory relies on strong switching costs, which continue to be exemplified by strong net revenue retention rates (135% as of October). We believe Snowflake is acting wisely by investing heavily in customer acquisition now to reap massive benefits later.

The company’s fourth-quarter outlook includes year-over-year growth in product revenue at a midpoint of 29.5%. Fiscal 2024 product revenue is guided for year-over-year revenue growth at a midpoint of 37% (an increase from 34% previously). Non-GAAP operating margins are expected to be 4% in the fourth quarter and 7% for the overall year. Despite the favorable boost to the outlook, we caution investors not to be overly eager for significant upside this year beyond guidance. Snowflake has a slew of new products going into public preview this year, which will be a temporary headwind for margins as associated costs start to get capitalized. Nonetheless, we think the new product investments will pay off, as we foresee ample scale ahead.

Data as of Source: Morningstar Direct.

Fair Value Estimate for Snowflake

With its 4-star rating, we believe Snowflake’s stock is undervalued compared with our long-term fair value estimate.

Our fair value estimate is $231 per share. Our valuation implies forward fiscal-year enterprise value/sales of 25 times and a free cash flow yield of 1%. Our assumptions are based on our expectation of Snowflake achieving a compound annual growth rate of 34% over the next five years and 26% over the next 10 years. Snowflake is in its infancy, but it has a massive market opportunity and a large runway for growth.

This substantial growth is driven by workloads continually shifting to a cloud environment, resulting in Snowflake accumulating more share of the overall database management system market. Our forecasts also assume substantial usage growth per customer, as we expect customers to scale their data storage significantly after migrating to the cloud due to reduced costs and the ease of such scaling.

Read more about Snowflake’s fair value estimate.

Source: Morningstar Direct. Data as of Nov. 30, 2023

Economic Moat Rating

We do not think Snowflake has a moat. Though the firm benefits from switching costs and a network effect, protected by its unique multi-cloud strategies, we cannot say with complete certainty that this will lead to excess returns on invested capital 10 years from now, given its limited public history and significant current lack of profitability.

Snowflake is a fast-growing provider of data lake, data warehousing, and data sharing solutions. The company’s value proposition lies in overturning the faults of existing data storage architectures and even more accurate methods of storing data in the cloud through its combined data lake and data warehouse platform. The rise of the public cloud has resulted in an increasing need to access data from different databases in one place. A data warehouse serves this need. Data lakes are used to store not just structured data within a database or data warehouse, but also data that is not yet fully indexed (either unstructured or semistructured data). This data in a lake is ingested into AI models to create novel insights. These insights are indexed and therefore are considered structured data, which is then housed in a data warehouse to easily be queried.

We think Snowflake’s switching costs are strong even without locking in multiyear subscriptions. Roughly 93% of the firm’s revenue is consumption-based, meaning it is not a subscription-as-a-service company. Clients typically commit to set consumption rates on an annual basis. We think Snowflake benefits from a network effect in its data-sharing business. It’s the only platform that allows for the sharing of data sets in a multi-cloud fashion through the Snowflake Data Marketplace, and this data can be purchased by other companies.

Snowflake is a key supplier for a host of enterprises. We ultimately foresee the firm achieving massive growth, but it’s racking up significant operating losses during its growth phase. Such growth is a necessity for the company to generate excess returns on capital, and it’s a bit early in its lifecycle for us to have absolute certainty that it can earn these returns in the long run.

Read more about Snowflake’s moat rating.

Risk and Uncertainty

Snowflake runs the risk that other cloud-neutral software will enter its market, or that a public cloud company will open its data warehouse and data sharing to be interoperable outside its cloud. While we think it’s unlikely that either Amazon.com AMZN will open AWS or Microsoft MSFT will open Azure, they have vastly greater resources to compete in this space if they so choose.

Furthermore, Snowflake is at risk of compromising the data on its platform, either through data breaches or in the case compliance tools are unable to do their job. For example, the firm offers a number of features for ensuring data is compliant with regulations like the General Data Protection Regulation.

Read more about Snowflake’s risk and uncertainty.

SNOW Bulls Say

  • Snowflake could remain the only multi-cloud offering of its kind for much longer than anticipated, letting it increase its top line more with minimal pricing pressure.
  • Snowflake could move to a subscription model from a usage-based one, boosting the monetization of its products.
  • Snowflake could expand to other multi-cloud data needs, pushing spending per customer to greater heights.

SNOW Bears Say

  • Other multi-cloud data providers may emerge to compete with Snowflake, or in-house data warehouses at AWS or Azure could potentially adopt a multi-cloud strategy.
  • Snowflake could fail to expand its data-sharing network extensively, leaving it vulnerable to competition with larger networks.
  • Migration of existing workloads to the cloud could occur at a slower pace, extending Snowflake’s unprofitable years.

This article was compiled by Adrian Teague

Sun, 03 Dec 2023 10:00:00 -0600 Julie Bhusal Sharma en text/html https://www.morningstar.com/stocks/after-earnings-is-snowflake-stock-buy-sell-or-fairly-valued
Precisely Data Integrity Suite is Now Powered by Snowflake No result found, try new keyword!BURLINGTON, Mass.--(BUSINESS WIRE)--Precisely, the global leader in data integrity, today announced that its Precisely Data Integrity Suite is Powered by Snowflake. Joint customers can leverage ... Mon, 11 Dec 2023 19:00:00 -0600 https://www.businesswire.com/news/home/20231212496103/en/Precisely-Data-Integrity-Suite-is-Now-Powered-by-Snowflake Snowflake accelerations mysteriously follow a predictable pattern

A winter wonderland calls to mind piles of fluffy, glistening snow. But to reach the ground, snowflakes are swept into the turbulent atmosphere, swirling through the air instead of plummeting directly to the ground.

The path of precipitation is complex but important to more than just skiers assessing the potential powder on their alpine vacation or school children hoping for a snow day. Determining snowflake fall speed is crucial for predicting and measuring .

In Physics of Fluids, researchers from the University of Utah report snowflake accelerations in atmospheric turbulence. They found that regardless of turbulence or snowflake type, acceleration follows a universal statistical pattern that can be described as an exponential distribution.

The article, "A universal scaling law for Lagrangian snowflake accelerations in atmospheric turbulence," is authored by Dhiraj Kumar Singh, Eric R. Pardyjak, and Timothy Garrett.

"Even in the tropics, precipitation often starts its lifetime as snow," said author Timothy Garrett. "How fast precipitation falls greatly affects storm lifetimes and trajectories and the extent of cloud cover that may amplify or diminish climate change. Just small tweaks in model representations of snowflake fall speed can have important impacts on both storm forecasting and how fast climate can be expected to warm for a given level of elevated greenhouse gas concentrations."

Snowflakes swirling in turbulent air as they fall through a laser light sheet. Credit: Singh et al.

Set up in a ski area near Salt Lake City, the team battled an unprecedented 900 inches of snow. They simultaneously filmed snowfall and measured . Using a device they invented that employs a laser light sheet, they gathered information about snowflake mass, size, and density.

"Generally, as expected, we find that low-density 'fluffy' are most responsive to surrounding turbulent eddies," said Garrett.

Despite the system's complexity, the team found that snowflake accelerations follow an exponential frequency distribution with an exponent of three halves. In analyzing their data, they also discovered that fluctuations in the frequency distribution followed the same pattern.

"Snowflakes are complicated, and turbulence is irregular. The simplicity of the problem is actually quite mysterious, particularly given there is this correspondence between the variability of terminal velocities—something ostensibly independent of turbulence—and accelerations of the snowflakes as they are locally buffeted by turbulence," said Garrett.

Because size determines terminal velocity, a possible explanation is that the turbulence in clouds that influences snowflake size is related to the turbulence measured at the ground. Yet the factor of three halves remains a mystery.

The researchers will revisit their experiment this winter, using a mist of oil droplets to obtain a closer look at and its impact on snowflakes.

More information: Dhiraj Kumar Singh et al, A universal scaling law for Lagrangian snowflake accelerations in atmospheric turbulence, Physics of Fluids (2023). DOI: 10.1063/5.0173359

Citation: Snowflake accelerations mysteriously follow a predictable pattern (2023, December 19) retrieved 5 January 2024 from https://phys.org/news/2023-12-snowflake-mysteriously-pattern.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Mon, 18 Dec 2023 10:00:00 -0600 en text/html https://phys.org/news/2023-12-snowflake-mysteriously-pattern.html
Snowflake Stock Beats Investor Expectations On Growth From Generative AI

Snowflake — a mobilizer of enterprise data through a company’s data cloud — exceeded investor expectations in its most accurate financial report, according to MarketWatch.

While Snowflake’s shares closed December 5 at $186 a share — 52% below their November 2021 high — the company’s November 29 third quarter report seems to have boosted its stock price by 8%.

Will Snowflake continue to beat expectations? Based on my accurate interviews with company executives, a Goldman Sachs analyst, and a Snowflake customer — Freddie Mac’s chief data officer — the data platform provider has several factors working in its favor, including:

  • More spending on Snowflake’s services.
  • High return on customer investment.
  • Building new services to satisfy new customer needs.

Snowflake faces several risks — including competition from hyperscalers like AWS and others, the possible failure of its compliance procedures, and slower than expected migration to the cloud, according to Morningstar.

However, the company appears to be riding a cresting wave of demand and is well-positioned to capture a significant share.

Snowflake’s Third Quarter 2023 Performance and Prospects

Snowflake stock rose 7.6% after the company reported expectations-beating results on November 29.

Here are the key numbers from MarketWatch:

  • Q3 product revenue: $698 million, up 34% and $19 million above analyst estimates.
  • Q3 Adjusted earnings per share: 25 cents — up 127% and nine cents per share above estimates.
  • Q3 net revenue retention rate: 135%.
  • Q3 customers with over $1 million in revenue: 436.
  • Q4 revenue guidance: a range between $716 million and $721 million — the midpoint of which is about $22.5 million more than estimates.

“These results reflect strong execution in a broadly stabilizing macro environment,” CEO Frank Slootman said in a release.

Snowflake enjoyed increased demand in the third quarter. In a December 4 interview, Slootman told me, “We grew revenue 34% in the latest quarter. The big takeaway to read into it is the markets have stabilized.”

He added that in “Q4 22, Q1 23, and Q2 23 we saw disruption as people focused on rationalization and getting rid of stuff. We reset guidance based on our consumption model. The financial world does not love the consumption model on the way down. In Q3 we maintained our guidance. We see continued strength and raised our Q4 guidance.”

More Spending On Snowflake’s Services

Due to Snowflake’s consumption model — where customers pay for what they use, rather than a fixed per person monthly fee — the company’s revenues fluctuate with demand.

Despite push back from investors, Snowflake sees the consumption model as the wave of the future. “The consumption model is positive for the entire sector,” Slootman said.

“I was previously CEO of ServiceNow NOW which has a traditional subscription model,” he added. “I thought the model was unfair to customers to charge them on a per user per month basis whether they used it or not.”

Investors like the predictability of the traditional SaaS model but customers have mixed feelings about it. As he told me, “The consumption model is great for customers on the way down — since they do not pay for what they do not use. However, on the way up, they pay more to use more and they don’t like it.”

Earlier in 2023, customers were consuming less. Now they are increasing their spending. “We came out of a period of irrational exuberance during the pandemic. There was over caffeinated spending,” he said. “The bill came due and companies rationalized and optimized in reaction to the prior several years.”

By diversifying its customer base, Snowflake is less likely to experience such future fluctuations. “Over the last four or five years, our business was mostly digital natives,” Slootman told me.

He added, “Since then we have layered in traditional companies — such as banks, manufacturers, health care, and retailers. We are more stable now. It won’t happen again.”

High Return On Customer Investment

Snowflake customers say they get value from the company’s products. I have previously written about how Goldman Sachs and State Street STT have benefited. In a nutshell, they value getting faster access to the data they need to make better decisions.

Freddie Mac is getting faster answers with Snowflake. On December 5, Aravind Jagannathan, vice president chief data officer at the company, told me, “In 2019 we wanted to move our data from on-premises to the cloud. We wanted to be quicker in providing insights from the data while reducing the risk of having multiple copies of our data moving back and forth.”

Freddie Mac picked Snowflake for its faster speed to market and better query performance. “A report that used to take until 3 pm to deliver arrived at 8 am,” Jagannathan said. He added, “Processing that used to take 12 hours is now done in 35 minutes. A capital report that used to take many hours can be done in 10 minutes.”

Freddie Mac will take its time on using Generative AI. “We are being thoughtful about regulators and senior management,” he said. “Snowflake can support Generative AI. We are going to make sure we have the right data governance and have identified the right use cases.”

New Services To Satisfy New Customer Needs

The world changes fast and companies can only keep growing if they position themselves to take advantage of those changes in ways that benefit customers.

Snowflake’s technology has evolved in the direction of greater flexibility for customers. “We used to offer data warehousing for a very specific use case of making batch processing data available for analytics,” Slootman said.

He continued, “We have added many different kinds of workloads. Now we have a platform based on all kinds of live data. Now the work is going to the data. It is easy to inquire about what is happening now in the business. We are working towards enabling users to ask ‘What will happen next quarter? Why? Will it happen again? What should we do about it?’”

Generative AI will contribute to realizing Slootman’s vision for a forward-looking decision support system. According to my December 4 interview with Sridhar Ramaswamy, Snowflake’s senior vice president of AI, “Fidelity uses Snowflake as its platform of record for all data. If they want a global picture it can be done easily with live data through Snowflake.” (Ramaswamy previously led Neeva, a search service powered by AI without advertisements, that Snowflake acquired in May 2023).

To that end, it sounds to me as though Snowflake is cautiously building a way for end-users to make natural language queries of their data. “2023 is the year of AI,” Ramaswamy said. “First we have the ability to synthesize information in a fluid conversation through ChatGPT using Neeva.”

Snowflake is developing this vision in stages. First, search can be done through frequently asked questions. Next, the company is offering CoPilot to make it easier for people to write SQL code to provide faster access to the data. “We are building out the capability to query data in real time,” he concluded.

Like Freddie Mac, Snowflake is not going to offer Generative AI until it is safe. “We are building business applications and we want it to be rock solid with no hallucinations,” Slootman said.

He added, “AI is bridging the gap between man and machine. We are working on the last mile. We will not launch until security and governance are solid and we provide links to know where the data came from. We will have auditability and verifiability.”

Where Will Snowflake Stock Go?

If Generative AI works safely and effectively, more people will use Snowflake to access corporate data — which would increase the company’s revenue and presumably its stock price.

How much revenue will this add? “It is not there yet to quantify. It is bigger than a breadbox. It will become massive. It will pay for itself — for example in contact centers. It can run multiple workloads at the same time. A client told me, ‘People are getting drunk on Snowflake,’ ” Slootman concluded.

Goldman Sachs is bullish on Snowflake. According to my November 30 interview with Goldman Sachs managing director, Kash Rangan, “Snowflake is like a Ferrari — it is bigger, faster, and has more power. These days we are talking about analyzing so much more data — exabytes. Creating an architecture that runs in the cloud is essential for providing accurate analysis at scale.”

Snowflake creates significant business value for customers. “Snowflake can help you compare three suppliers and identify which one delivers on time and at the lowest price,” he told me.

Rangan added, “An investment bank can run daily analysis to find out which customer is the most profitable, which equity and fixed income trades made the most money. It is really hard to get those answers fast. If you have to wait a week, the information is not actionable.”

Goldman sees Generative AI as an opportunity for Snowflake in two areas: data and training large language models. Snowflake enables non technical users to ask a question in plain English to get access to all that data.

For example, Rangan said, “You can ask: ‘My supply chain is gnarled up. How can I configure it so I can deliver what customers ordered in three days rather than seven?’ ” He added, “Snowflake uses SQL. So before LLMs, only experts in SQL coding could tap into that valuable business data. Now anyone can access it.”

He thinks Snowflake has a bright future. “It has core technology, a great business model, an outstanding management team, and the ability to execute.”

Another analyst has a more mixed outlook. According to Morningstar — which set a price target of $231 for Snowflake — the analyst was disappointed with the company’s profitability; while its Q3 revenue and revenue forecast were better than anticipated.

Ultimately, Morningstar views Snowflake as well positioned to take advantage of the growth resulting from AI. However, the analyst is anticipating the investment required to satisfy the demand will cut into Snowflake’s profitability.

As long as Snowflake keeps reporting better than expected revenue growth, its stock price should rise.

Wed, 06 Dec 2023 02:25:00 -0600 Peter Cohan en text/html https://www.forbes.com/sites/petercohan/2023/12/06/snowflake-stock-rises-on-growth-from-generative-ai/




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