Dan Ives Calls Snowflake's Latest Quarter Seminal for Software

*Wedbush analyst highlights strong results at Snowflake while noting mounting pressure on Salesforce to improve monetization.*

Dan Ives, global head of tech research at Wedbush Securities, described Snowflake's second-quarter earnings as a seminal period for the software sector. He pointed to the results as evidence of sustained demand in data and cloud infrastructure.

The comments came during a Bloomberg Technology segment focused on recent earnings releases. Ives contrasted Snowflake's performance with ongoing challenges at Salesforce, where he sees a need to monetize between 15% and 20% of the customer base.

Ives framed the required shift at Salesforce as a multi-quarter effort rather than a quick fix. He tied the timeline to the next two to four quarters, during which the company would need to demonstrate clearer progress on revenue per customer.

No additional financial metrics or product details were provided in the segment. The remarks stayed at the level of sector-wide implications drawn from the two companies' results.

The limited public detail leaves open questions about how Snowflake's growth compares with prior periods or with peers. Ives's characterization stands as the primary on-record assessment from the source.

For software investors and operators, the takeaway centers on continued strength in data platforms alongside persistent execution pressure at established CRM vendors. The gap between the two stories may influence capital allocation decisions in the coming quarters.

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Sources:

• Bloomberg Technology

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