Snowflake shares lost 70% from their peaks in 2021. Snowflake’s “hot” IPO in 2020 was attended by the famous Warren Buffet, an “Omaha Oracle”. However, investors, who missed this IPO may not be concerned as Snowflake’s share prices returned to the IPO level at $120 per share.

The company specialises in large cloud-based data storage and analytics services. Users may exchange data within the company’s cloud network that is expanding in a useful ecosystem. Such solutions allow for the improvement of defected cloud infrastructure. The market now contains a vast number of cloud-based applications that are separated from each other, making corporate clients uneasy to use them. Snowflake unites different applications and services inside its ecosystem, which is a great added value for corporates.

The market of such cloud-based solutions is estimated at $90 billion that ensures the company’s future and expansion. The Q4 2022 fiscal year published in March 2022 revenues added 102% year-on-year to $383.7 million. The company has gained 14 Fortune 500 and 21 Global 2000 companies as its new clients. Existing clients brought the company 78% extra revenue over the last three months of 2021. So, the company has not only achieved passive expansion, but it also offers a well monetised services to its existing clients.

For the first quarter of the fiscal year 2023, Snowflake is projecting product revenue of $383 million to $388 million, up 79% to 81% from the fiscal year 2022.

The mid-term target price for Bandwidth is expected to be at $160.