Snowflake Has a Hot New Product
Written by Motley Fool Staff for The Motley Fool -> In this episode of Motley Fool Hidden Gems Investing , Motley Fool contributors Jon Quast, Matt Frankel, and Travis Hoium discuss: To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center . W
In this episode of Motley Fool Hidden Gems Investing , Motley Fool contributors Jon Quast, Matt Frankel, and Travis Hoium discuss:
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center . When you're ready to invest, check out this top 10 list of stocks to buy .
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Jon Quast: Snowflake has a hot new product. This is Motley Fool Hidden Gems Investing . Welcome to Motley Fool Hidden Gems Investing . I'm Jon Quast, filling in today for Tyler Crowe. That means that Travis Hoium is filling in for me, along with the Fool contributor Matt Frankel.
Jon Quast: That's all right. Listen, we have some news here for real estate, and some acquisition news we're going to get to. But first, let's talk about Snowflake because this is an $80 billion company, and it's up a whopping 37% today. This, of course, the data management, and analytics software company and this was the hot thing when it first went public, and it is down about 50% from its all-time high. Way back in 2021, this company was known for incredible growth rates, but the growth rate was just steadily declining. But here in this quarter, revenue all of a sudden jumped to 33% growth, and management raised its guidance for the year. All of a sudden, we see a little bit of growth is maybe picking back up again for Snowflake. What is interesting here, is that the analysts were really curious what is driving this surprise growth, and Snowflake's management crediting a new product that it launched during the quarter called Cortex Code or Coco. That is what is really accelerating things here. Travis, I just want to throw it to you. What is Coco, and why do Snowflake's customers like it so much?
