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Snowflake (SNOW) has erased its spring drawdown, returning 45% over the past year to trade near $332.43.
The complication is the multiple: at 132 times next-twelve-month earnings, the stock prices in sustained high-30s growth, a hurdle that makes the current rally both a validation of recent acceleration and a potential trap for latecomers.
The case for holding is rooted in the September 2 fiscal second-quarter print.
Revenue rose 35% to $1.55 billion, beating the $1.48 billion consensus, while adjusted earnings hit $0.62 per share against the $0.45 Street estimate.
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