Snowflake Inc. (SNOW) saw its stock price plunge 5.24% on Sunday's intraday trading session, with investors likely taking profits after the company's strong rally in recent months.
The cloud data platform provider's shares have surged over 60% in the past three months, fueled by the growing adoption of its artificial intelligence (AI) tools and solid fiscal Q3 2025 earnings results. However, the stock's valuation has become stretched, raising concerns among investors about its potential for further upside.
Despite Snowflake's promising growth prospects, driven by its AI solutions and expanding total addressable market, the company's current valuation multiples are significantly higher than industry averages. Trading at 17 times sales and a forward earnings multiple of 197, Snowflake's stock is considered expensive by many analysts, especially considering the expected dip in earnings for the fiscal year 2025.
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