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

Snowflake (NYSE:SNOW) had its price target increased by DA Davidson from $300.00 to $450.00 in a research report sent to investors on Thursday, Marketbeat.com reports. DA Davidson currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on SNOW. JPMorgan Chase & Co. increased their price target on Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Rosenblatt Securities increased their price objective on shares of Snowflake from $285.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Loop Capital lifted their target price on shares of Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Citizens Jmp boosted their target price on shares of Snowflake from $408.00 to $488.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, HSBC set a $289.00 price target on shares of Snowflake and gave the company a “buy” rating in a research note on Friday, May 29th. Thirty-four investment 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 presently has an average rating of “Moderate Buy” and an average target price of $414.24.

Snowflake Price Performance

NYSE SNOW opened at $338.47 on Thursday. The firm’s fifty day simple moving average is $297.66 and its two-hundred day simple moving average is $220.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake has a 12-month low of $118.30 and a 12-month high of $384.56. The firm has a market capitalization of $117.31 billion, a P/E ratio of -106.44 and a beta of 1.33.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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 analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. Analysts forecast that Snowflake will post -1.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 289,685 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $274.39, for a total transaction of $79,486,667.15. Following the completion of the transaction, the director directly owned 28,535 shares of the company’s stock, valued at approximately $7,829,718.65. This trade represents a 91.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 company’s stock in a transaction 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 trade 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. In the last quarter, insiders have sold 1,131,160 shares of company stock worth $317,966,701. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its position in Snowflake by 25,944.6% during 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 purchasing an additional 126,851,670 shares during the period. Norges Bank acquired a new position in shares of Snowflake in the 4th quarter valued at about $974,091,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Snowflake in the fourth quarter worth about $345,619,000. William Blair Investment Management LLC boosted its stake in shares of Snowflake by 159.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company’s stock worth $295,477,000 after buying an additional 828,789 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Snowflake by 44.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after acquiring an additional 803,110 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

More Snowflake News

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.