Jim Cramer on Snowflake: “Sridhar Ramaswamy, He’s Doing a Remarkable Job”

Snowflake Inc. (NYSE:SNOW) was among Jim Cramer’s recent stock calls on Mad Money. A caller asked whether it is a good time to get into the stock or if it is too late. In response, Cramer said:

Alright, Sridhar Ramaswamy, he’s doing a remarkable job. Earlier I talked about FICO and how you just get this boogeyman; they just say listen, watch out, this stuff’s going to be destroyed. This one’s supposed to be destroyed by Databricks, you know, this is supposed to be destroyed by a theme [that] is really hard to dispel. That said, if you start buying Snowflake down here, you’re buying it at a, what is the first decent price I’ve seen in a long time.

Photo by Adam Nowakowski on Unsplash

Snowflake Inc. (NYSE:SNOW) provides a cloud platform that helps organizations pull their data into one place so they can analyze it, build data apps, share information, and use AI to solve business challenges. Cramer highlighted the company’s major partnerships during the February 25 episode, as he commented:

Okay, can any enterprise software company catch a break in this environment where Wall Street’s terrified AI will destroy the profit margins even if it hasn’t even started yet? Look at Snowflake. Now, this is a cloud-based data management analytics platform. This is more of an infrastructure play, and they have a consumption-based pricing model rather than charging per seat, which should make the stock a lot less vulnerable to AI. In fact, their platform is borderline essential for building AI tools. They’ve recently announced major partnerships with both Anthropic and OpenAI, yet the stock’s down nearly 40% from its highs in early November. And when Snowflake reported after the close… terrific annual product revenue forecast, it wasn’t enough to change the narrative. Initially, the stock jumped higher in after-hours trading, but then it gave back all those gains and then some.

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