Snowflake (NYSE:SNOW) Price Target Raised to $450.00 at Argus

Snowflake (NYSE:SNOW) had its price objective raised by Argus from $300.00 to $450.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Argus’ target price points to a potential upside of 26.13% from the stock’s previous close.

Several other brokerages have also issued reports on SNOW. Rosenblatt Securities increased their target price on shares of Snowflake from $285.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup boosted their target price on Snowflake from $395.00 to $490.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC increased their price target on Snowflake from $330.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday. Monness Crespi & Hardt upped their target price on Snowflake from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Weiss Ratings downgraded shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Thirty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $414.24.

Snowflake Trading Up 16.7%

Shares of SNOW opened at $356.78 on Friday. The business’s fifty day moving average is $295.85 and its 200-day moving average is $219.50. The firm has a market cap of $123.66 billion, a price-to-earnings ratio of -112.19 and a beta of 1.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake has a 52-week low of $118.30 and a 52-week high of $384.56.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 47.20% and a negative net margin of 20.07%.The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $0.35 earnings per share. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Equities analysts anticipate that Snowflake will post -1.81 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $324.06, for a total value of $16,312,532.28. Following the sale, the director owned 26,036 shares of the company’s stock, valued at $8,437,226.16. This trade represents a 65.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $325.00, for a total transaction of $8,125,000.00. Following the completion of the sale, the executive vice president directly owned 340,379 shares in the company, valued at $110,623,175. This represents a 6.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,131,160 shares of company stock valued at $317,966,701 in the last three months. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Snowflake during the fourth quarter worth approximately $28,000. Greenline Wealth Management LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $29,000. Basecamp Wealth Advisors LLC grew its position in Snowflake by 140.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after acquiring an additional 118 shares during the last quarter. Emerald Advisers LLC increased its stake in Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Finally, MV Capital Management Inc. purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Quarterly beat: Snowflake reported adjusted EPS of $0.62 versus the $0.45 consensus estimate. Revenue increased 35.1% year over year to $1.55 billion, exceeding expectations of $1.48 billion, while product revenue rose 37% to approximately $1.49 billion. Snowflake spikes on healthy results and AI coding momentum
• Positive Sentiment: AI is accelerating growth: Management said AI products contributed roughly half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the company’s strategy of expanding data-platform consumption through enterprise AI workloads. Snowflake Stock Soars as Surging AI Demand Boosts Earnings
• Positive Sentiment: Higher forecast: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. Management also indicated it remains on track to reach break-even next year, improving confidence in the company’s growth trajectory.
• Positive Sentiment: Analyst optimism: UBS, Citi, JPMorgan, TD Cowen, Bank of America and other firms raised their targets, with several Buy or Overweight ratings and targets ranging from the low $400s to $500. The consensus rating is Moderate Buy. Wall Street analyst views
• Positive Sentiment: Customer adoption: Sayari selected Snowflake to rebuild its Commercial World Model, potentially reducing its data-infrastructure costs by more than 50%, providing an additional example of enterprise use of the platform. Sayari selects Snowflake

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.