Snowflake SNOW recently announced expansion of its native Python support to advance programmability in the data cloud. Snowflake has launched Snowpark for Python, which is now available for public preview.
As part of the public preview release, Snowflake is offering Snowpark public API, Python Scalar User Defined functions and Python UDF batch API. This would make Python’s rich ecosystem of open-source packages and libraries accessible in the Data Cloud and allow Python developers to build secure and scalable data pipelines and machine learning (“ML”) workflows directly within Snowflake.
The recent enhancement to make Python more accessible in data cloud has been made possible by Snowflake’s strategic investments in Anaconda and Streamlit. Per a recent survey by Anaconda, Python is the most popular programming language among data scientists and developers.
The collaboration between Anaconda and Snowflake will attract python developers to the latter’s platform and drive top-line growth by expanding its customer base and increasing usage of the platform among existing users.
Snowflake is also expanding its data access capabilities on its platform to help users access data faster for improved developer productivity. The recent enhancements will allow users to eliminate the boundaries between streaming data and batch pipelines with Snowpipe streaming.
This would allow developers to design different ML workflows by transforming streaming data. Streaming data is the data generated continuously by thousands of data sources, such as log files, generated by customers while using companies’ mobile or web applications.
The recent enhancements to the Snowflake platform and the launch of various workloads is in line with Snowflake’s strategic focus to enable every single workload required to govern data efficiently, reduce operational complexity and minimize the cost of handling data. This is essential because data volume is increasing immensely every day.
Snowflake Inc. Price and Consensus
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Snowflake’s Diverse Data Cloud Offerings Driving Top Line
Along with the recent enhancements, Snowflake has launched various different workloads recently, such as the Unistore workload and Cybersecurity workload.
The Unistore workload simplifies the development of transactional applications by working with transactional data and analytical data in a single platform which has been siloed traditionally till now.
As data volume is increasing, organizations currently have multi-cloud strategies that they are utilizing for everything from hosting data centers to enterprise applications.
Concurrent with the increase in the adoption of data cloud, cyber threats have also been increasing.
In pursuance of addressing the cyber security threat, Snowflake launched its new Cybersecurity workload that enables cyber security teams to protect their enterprises within the Data cloud.
In order to accelerate the adoption of its platform and different workloads Snowflake has also been investing heavily in building their partner base. Dell Technologies DELL and Amazon AMZN are two key partners for the company.
Snowflake’s recent partnership with Dell will allow joint customers to access data stored on Dell object storage with Snowflake data cloud.
Amazon’s cloud division, AWS, is helping SNOW provide seamless integration across different cloud platforms to aid customers in storing and analyzing data in the Healthcare and Life sciences industry.
However, rising demand for cyber security offerings has resulted in Snowflake encountering escalating competition from the likes of Cisco Systems CSCO in cloud security solutions.
Cisco is designing a new Securities Cloud Platform, which will provide comprehensive securities solutions to protect the entire IT ecosystem while avoiding public cloud lock-in.
Further, the COVID-19 pandemic, along with macroeconomic turmoils, have impacted Snowflake’s business, the data cloud market and business partners operations negatively. Rising competition and the negative impact of the volatile economy on Snowflake’s partners have impacted the company’s stock price negatively.
Shares of Snowflake currently carry a Zacks Rank #3 (Hold) and have lost 66.4% year to date, underperforming the Zacks Computer and Technology sector’s decline of 53.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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