Snowflake Appoints New CEO to Reignite Growth Amidst Big Data Opportunity and Heightened Competition
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Snowflake provides a cloud data platform to help companies utilize big data and AI, but the stock has underperformed despite strong revenue growth.
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A new CEO, Sridhar Ramaswamy, was just appointed to accelerate innovation and growth to capitalize on the massive AI/big data opportunity.
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Competition is increasing (e.g. Databricks) and Snowflake needs to deliver new innovations and value to customers faster under the new CEO.
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The valuation has come down a lot recently but remains elevated given high growth expectations that now need to be met.
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If Snowflake can execute well under the new CEO to capitalize on the enormous AI/big data trend, patient long-term investors could still benefit greatly.