Snowflake (SNOW) stock returned 140.7% from April 29 to October 28, 2026, after losing 47.6% in the six months before April 29. The article says revenue growth re-accelerated, rising from 28.7% in the quarter ended October 2025 to 35.1% in the quarter ended July 31, 2026. Backlog of signed contracts not yet booked as sales grew 30% from a year earlier on the September call, down from the 55% management cited in November 2024. Management guided product revenue growth to 37% to 38% for the quarter ending October 2026, close to 37% in the July quarter, which the article reads as growth holding near its new pace. The article says the figure to watch when Snowflake reports in December 2026 is product revenue growth against that guidance.
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