Here's Why Snowflake Stock Soared 52% Last Month

Core Insights - Snowflake's stock surged 52.2% in November, following a 15% increase in the first half of the month, primarily driven by positive Q3 fiscal results reported on November 20 [1][2] Group 1: Financial Performance - Despite a strong performance in November, Snowflake's stock is down 42% year-to-date, reflecting investor concerns over slowing growth and rising expenses [2] - In Q3, Snowflake added 400 new customers, including 20 from the Forbes Global 2000, and saw a 25% increase in customers spending $1 million or more annually [3] - Product revenue for the first three quarters of fiscal 2025 increased nearly 31$10 billion in annual product revenue by fiscal 2029 was at risk due to declining growth rates, but recent metrics indicate a potential turnaround [6] - Remaining performance obligations increased by 55% year-over-year in Q3, suggesting that customers are willing to commit more spending to Snowflake's products [7]