Snowflake Stock Is Tumbling. Disappointing Guidance Missed Estimates.

Snowflake stock is sharply lower in late trading Wednesday after the cloud-based data-software company posted disappointing fiscal 2023 guidance that overshadowed strong results for the fiscal fourth quarter ended Jan. 31.

One of the most-expensive cloud-software stocks by almost any measure—and one of the sector’s fastest growers—in the current environment, highflying Snowflake stock was vulnerable to even a modest disappointment. In late trading, Snowflake shares are down 20%, to about $210. Snowflake (ticker: SNOW) went…