Core Insights - Snowflake (SNOW) is experiencing growth due to an expanding customer base, ongoing platform innovation, and a robust partner ecosystem, laying a strong foundation for long-term growth [1] Customer Growth - In Q2 of fiscal 2026, Snowflake added 533 new customers, including 15 from the Global 2000 list, marking a 21% year-over-year increase in net new customer additions [2] - The number of customers generating over $1 million in trailing 12-month revenues reached 654, with 50 customers crossing this threshold in the reported quarter [2] Partnerships and Collaborations - Snowflake collaborates with major cloud providers such as Microsoft Azure, AWS, and Google Cloud, as well as system integrators and technology innovators, enhancing its market reach and driving adoption [3][4] - The partnership with Palantir aims to integrate Snowflake's AI Data Cloud with Palantir's Foundry and AIP platforms, which is expected to improve operational efficiency and accelerate AI application development for joint customers [5][11] Competitive Landscape - Snowflake faces significant competition from major players like Amazon and Alphabet in the cloud data and analytics sector [6] - Amazon's cloud services continue to see strong demand, with significant agreements secured with major companies [7] - Alphabet is expanding its presence in the cloud analytics market through its Google Cloud platform and partnerships with NVIDIA [8] Stock Performance and Valuation - Snowflake's shares have appreciated by 59.1% year to date, outperforming the broader Zacks Computer & Technology sector's return of 23% and the Zacks Internet Software industry's growth of 16.4% [9] - The stock is trading at a premium, with a forward 12-month Price/Sales ratio of 15.58X compared to the Internet Software industry's 5.45X [12] - The consensus estimate for Snowflake's fiscal 2026 earnings is $1.17 per share, indicating a year-over-year increase of 40.96% [15]

Key Takeaways Snowflake posted 19% customer growth and a 125% net revenue retention rate in fiscal Q2 2026. AMZN's AWS revenue climbed 17.5% year over year to $30.9B, with major enterprise deals fueling demand. Both stocks look overvalued, but AMZN's diversified cloud ecosystem offers a steadier long-term edge. Snowflake (SNOW) and Amazon (AMZN) are major players in the cloud data and analytics space. While Snowflake provides a pure-play cloud data warehousing and analytics platform, Amazon, through its clo ...