Shares of cloud data warehouse company Snowflake (SNOW Quick QuoteSNOW - Free Report) soared on Thursday, closing up 16% after reporting its first earnings report since the company’s September IPO.

Total revenue grew 119% to $159.6 million, product revenue was up 115%, operating loss was $48.1 million, beating Wall Street expectations, and net loss came to $1.01 per share. The company now expects $162 million to $167 million in product revenue for fiscal Q4.

SNOW went public at $120 a share back in September, and more than doubled in its first day of trading to $253.93. SNOW is up 33.8% year-to-date compared to the S&P 500’s 8% gain.

These Stocks Are Poised to Soar Past the Pandemic

The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.

Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.

See the 5 high-tech stocks now>>