After a 17% Surge, Is Snowflake Stock Still a Buy as Revenue Growth Accelerates?

Snowflake stock surged 16.6% following strong fiscal Q2 earnings, with revenue climbing 35% YoY to $1.55B and product revenue accelerating for the third consecutive quarter. The company is positioned as a key platform for enterprise agentic AI deployment. However, the stock's valuation at 20x forward P/S is at the high end of its range, potentially capping near-term upside despite strong long-term growth prospects.