Benzinga | Aug 20, 2021 10:56AM EDT

Why Snowflake's Stock Is Falling Today

Snowflake Inc (NYSE:SNOW) is trading significantly lower Friday after Cleveland Research released a note to clients warning that the company is showing signs of slowed growth from its previous quarter, according to reports.

During its analyst day on June 10, Snowflake laid out a path to $10 billion in product revenue by fiscal 2029.

Snowflake is a data lake, warehousing and sharing company with more than 3,000 customers.

The data company is scheduled to announce its second-quarter fiscal 2022 financial results on Aug. 25.

Price Action: Snowflake has traded as high as $429 and as low as $184.71 since its IPO in September.

At last check Friday, the stock was down 9.06% at $254.17

Photo: courtesy of Snowflake.