Snowflake (SNOW) is a Yahoo Finance trending ticker. The cloud company is in the midst of its Data Cloud Summit, where it's been providing news and updates. It also comes as rival Databricks cut a deal to acquire data management startup Tabular. Snowflake CEO Sridhar Ramaswamy told Bloomberg the company is "on the lookout for acquisitions opportunistically."

Yahoo Finance's Julie Hyman and Jared Blikre explain why the company's stock has been under pressure.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Stephanie Mikulich.

Video Transcript

You see a company like Snowflake which is under pressure today, that's a top trending ticker.

Um There was an upbeat response initially to its user conference this week.

The company CEO saying he is looking for deals in A I to stay competitive with peers.

Now, the same time today, there was a deal done by one of its biggest competitors, data bricks which is buying a company called tabular.

But some of the analysts in following this conference did express a little bit of skepticism here.

One analyst at evercore said the company is still in show me mode as analysts like to say, yeah, they also can.

So this is also Evercore which rates the stock outperform price target 225.

They also said the pace of innovation and urgency to ship A I products has accelerated, but it is in the early days of the A I front and let's go to the Wi Fi Interactive, I just want to show what has happened over the last month in software.

You're seeing a lot of red.

So that's just kind of the picture I wanted to show.

Now, look at semiconductors and I'll give an equal weighted view.

That's just the polar opposite there.

So vast difference between service, uh, excuse me, software and chips now.

Yeah.

Speaking of swapping places.

Right.

Like we've seen, well, that's, that's what we've seen with semis and, and software as well.