Snowflake (NYSE:SNOW) Price Target Raised to $490.00

Snowflake (NYSE:SNOW) had its price objective hoisted by Citigroup from $395.00 to $490.00 in a report released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group lifted their price target on Snowflake from $216.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wells Fargo & Company upped their price objective on shares of Snowflake from $500.00 to $525.00 and gave the company an “overweight” rating in a research note on Thursday. DA Davidson raised their target price on shares of Snowflake from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush lifted their target price on shares of Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday. Thirty-four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.24.

Snowflake Stock Performance

SNOW opened at $338.47 on Thursday. The company has a market capitalization of $117.31 billion, a price-to-earnings ratio of -106.44 and a beta of 1.33. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. Snowflake has a 1-year low of $118.30 and a 1-year high of $384.56. The business has a 50 day moving average price of $297.66 and a two-hundred day moving average price of $220.33.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Research analysts predict that Snowflake will post -1.8 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 48,990 shares of Snowflake stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $320.78, for a total value of $15,715,012.20. Following the completion of the sale, the director owned 28,535 shares of the company’s stock, valued at approximately $9,153,457.30. The trade was a 63.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Speiser sold 403 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $324.06, for a total value of $130,596.18. Following the transaction, the director owned 22,573 shares in the company, valued at approximately $7,315,006.38. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,131,160 shares of company stock worth $317,966,701 over the last ninety days. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its position in Snowflake by 25,944.6% in the 2nd quarter. California State Teachers Retirement System now owns 127,340,602 shares of the company’s stock worth $32,408,183,000 after buying an additional 126,851,670 shares during the period. Nuveen LLC boosted its position in shares of Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after acquiring an additional 116,521 shares during the period. Geode Capital Management LLC boosted its position in shares of Snowflake by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after acquiring an additional 249,668 shares during the period. Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter worth $974,091,000. Finally, Janus Henderson Group PLC grew its stake in shares of Snowflake by 22.2% in the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after acquiring an additional 544,960 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong Q2 results: Snowflake reported adjusted earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue increased 35.1% year over year to $1.55 billion, ahead of expectations. Product revenue rose 37% to approximately $1.49 billion. Snowflake shares surge as AI demand powers growth and lifts outlook
• Positive Sentiment: AI is accelerating demand: Management said AI-related offerings contributed about half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the view that enterprise AI workloads can increase consumption of its data platform. Analysts discuss Snowflake’s AI-driven acceleration
• Positive Sentiment: Guidance and analyst targets moved higher: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. UBS, Citi, JPMorgan, TD Cowen and other firms subsequently raised targets, with several reaching $450 to $500 and maintaining bullish ratings. Snowflake’s AI momentum prompts higher price targets
• Neutral Sentiment: Profit-taking after a major rally: The stock had surged more than 20% after the earnings release and reached levels near its 52-week high. The current retreat likely reflects investors locking in gains rather than a deterioration in the latest operating results.
• Negative Sentiment: Margin and valuation risks remain: Management lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads increase costs. Snowflake also remains unprofitable under generally accepted accounting principles, while its high valuation leaves the stock vulnerable to further profit-taking if growth expectations moderate. Snowflake’s AI growth and margin outlook
• Negative Sentiment: Executive stock sale: EVP Christian Kleinerman sold 10,000 shares for approximately $3.8 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal a change in business outlook, the transaction may add to short-term investor caution after the rally.

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.