Jim Cramer Highlights Snowflake's Profit Growth and Market Momentum

Snowflake Inc. (NYSE:SNOW) is one of the stocks Jim Cramer was focused on. Cramer talked about the company’s latest quarterly report and said:

“After the close today, we got still one more blowout quarter from Snowflake, the cloud-based data management analytics platform that I like so much. Now, this comes on top of the last blowout quarter they reported three months ago. Tonight, they posted a solid top and bottom line beat, strong guidance for the current quarter. Hence why the stock’s screaming in after-hours trading. Not only does Snowflake have fantastic sales momentum, but the business is also becoming ever more profitable. It was the star of tonight’s earnings parade.”

Snowflake Inc. (NYSE:SNOW) provides a cloud-based data platform that unifies data for analytics, application development, and sharing. The company uses AI to deliver insights and solve complex business challenges across multiple industries. Cramer suggested buying the stock ahead of the quarter during the August 4 episode. He commented:

“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.”

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