SNOW - This Growth Stock Has Market-Beating Potential
2023-10-19 06:45:00 ET
Big data planted its roots with the rise of smartphones and social media platforms, but its growth has seemingly taken an exponential turn over the past few years.
The global big-data analytics market was valued at around $271 billion in 2022. This year, it's expected to hit over $307 billion, with estimates of a $745 billion market size by 2030. That's a compound annual growth rate of around 13.5%.
This is good news for Snowflake (NYSE: SNOW) and its investors because the company stands to gain directly from the growth and increasing necessity of big data. Its stock performance since going public in September 2020 has been lackluster, but there's still marking-beating potential.
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This Growth Stock Has Market-Beating Potential