Snowflake (NYSE:SNOW) Price Target Raised to $488.00

Snowflake (NYSE:SNOW) had its price target increased by Citizens Jmp from $408.00 to $488.00 in a report published on Thursday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $400.00 price target on Snowflake in a research note on Thursday. Weiss Ratings downgraded shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. The Goldman Sachs Group increased their target price on shares of Snowflake from $216.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Robert W. Baird set a $450.00 price target on shares of Snowflake in a research report on Thursday. Finally, Mizuho upped their price target on shares of Snowflake from $295.00 to $355.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Thirty-four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $414.24.

Snowflake Trading Down 5.0%

NYSE:SNOW opened at $338.47 on Thursday. Snowflake has a 12 month low of $118.30 and a 12 month high of $384.56. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average is $297.66 and its 200 day moving average is $220.33. The stock has a market capitalization of $117.31 billion, a PE ratio of -106.44 and a beta of 1.33.

Snowflake (NYSE:SNOW) last announced 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. Snowflake had a negative return on equity of 47.20% and a negative net margin of 20.07%.The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $0.35 earnings per share. Snowflake’s revenue was up 35.1% compared to the same quarter last year. Sell-side analysts expect that Snowflake will post -1.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 289,685 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $274.39, for a total value of $79,486,667.15. Following the completion of the transaction, the director directly owned 28,535 shares in the company, valued at approximately $7,829,718.65. The trade was a 91.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $324.06, for a total value of $16,312,532.28. Following the completion of the transaction, the director directly owned 26,036 shares in the company, valued at approximately $8,437,226.16. This represents a 65.91% decrease in their position. 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 quarter. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in SNOW. Brighton Jones LLC boosted its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Intech Investment Management LLC raised its position in Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after purchasing an additional 2,167 shares during the period. Geneos Wealth Management Inc. lifted its stake in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in Snowflake in the second quarter worth $221,000. Finally, The Manufacturers Life Insurance Company boosted its position in Snowflake by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after buying an additional 1,521 shares during the period. Institutional investors own 65.10% of the company’s stock.

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.

About Snowflake

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.