Jim Cramer Correctly Predicted Snowflake Inc. (SNOW) Would Have A "Blowout" Quarter

We recently published Jim Cramer Said AI Is A “Souped-Up Google” As He Discussed These 11 Stocks. Snowflake Inc. (NYSE:SNOW) is one of the stocks Jim Cramer recently discussed.

Snowflake Inc. (NYSE:SNOW) is a software company that enables businesses to manage their data. Its shares have gained 57.6% year-to-date, primarily due to a massive 23.7% earlier today after the firm’s second quarter earnings report saw it raise its annual product revenue guidance to $4.4 billion from an earlier $4.33 billion. Snowflake Inc. (NYSE:SNOW) also managed to grow its performance obligations by 33% to $6.9 billion to convince investors about the growth potential of its business pipeline. Cramer’s comments about Snowflake Inc. (NYSE:SNOW) ahead of the quarter proved to be quite prescient:

“I think that Ramaswamy is going to have a blowout quarter at Snowflake.”

In his earlier remarks, Cramer had continued to maintain that Snowflake Inc. (NYSE:SNOW) would have a great quarter:

“I like Snowflake. I think you can buy more. I honestly do. I think that the quarter’s going to be a very, very good quarter.”

While we acknowledge the potential of SNOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.