Snowflake (NYSE:SNOW) Price Target Raised to $395.00 at Bank of America

Snowflake (NYSE:SNOW) had its price target boosted by investment analysts at Bank of America from $330.00 to $395.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 23.81% from the company’s current price.

SNOW has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Snowflake from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Sanford C. Bernstein raised their price target on shares of Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, May 28th. Truist Financial lifted their price objective on Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Scotiabank boosted their price objective on Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 8th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Snowflake in a report on Wednesday, July 29th. Thirty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.73.

Snowflake Price Performance

Snowflake stock traded down $6.28 during trading on Wednesday, reaching $319.05. The company had a trading volume of 1,834,523 shares, compared to its average volume of 6,886,533. The firm has a market capitalization of $110.58 billion, a PE ratio of -90.78 and a beta of 1.33. The firm’s 50-day simple moving average is $273.79 and its 200 day simple moving average is $207.06. 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 1-year low of $118.30 and a 1-year high of $341.95.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, equities research analysts anticipate that Snowflake will post -1.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 10,315 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $275.10, for a total transaction of $2,837,656.50. Following the transaction, the director owned 28,535 shares of the company’s stock, valued at approximately $7,849,978.50. The trade was a 26.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 403 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $324.06, for a total value of $130,596.18. Following the completion of the sale, the director owned 22,573 shares of the company’s stock, valued at approximately $7,315,006.38. The trade was a 1.75% 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 have sold 2,027,351 shares of company stock valued at $509,659,117 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SNOW. Archer Investment Corp purchased a new stake in shares of Snowflake in the second quarter valued at about $677,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Snowflake during the second quarter worth about $513,000. Public Employees Retirement System of Ohio acquired a new position in Snowflake in the 2nd quarter valued at about $28,855,000. Ancora Advisors LLC acquired a new position in Snowflake in the 2nd quarter valued at about $275,000. Finally, LM Advisors LLC purchased a new stake in shares of Snowflake in the 2nd quarter valued at approximately $382,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Analyst upgrades support the stock: Citizens JMP raised its price target to $408 from $325 and assigned a “market outperform” rating. UBS also maintained its Buy rating and lifted its target to $425, citing improving enterprise AI demand and customer adoption. Wall Street Believes Snowflake AI Demand Is Accelerating
• Positive Sentiment: AI product improvements could increase usage: Snowflake introduced dynamic model routing in Cortex AI Gateway and its AI products, allowing customers to route queries among models to reduce costs and improve efficiency. Expanded access to open models may make Snowflake’s platform more attractive for enterprise AI workloads. Snowflake Unlocks Better AI Economics
• Positive Sentiment: Pre-earnings checks are encouraging: UBS said AI is translating into real customer spending, while Citizens reported that 88% of its data points were positive. Snowflake’s fiscal second-quarter results are scheduled for September 2, making demand trends a key near-term catalyst. Snowflake AI-Driven Data Momentum
• Neutral Sentiment: Expectations are unusually high: Snowflake has risen more than 170% since April, and UBS cautioned that revenue-growth expectations heading into the earnings report are demanding. The rally creates potential for profit-taking if results or guidance fail to exceed already bullish forecasts. Snowflake Faces High but Achievable Sales Expectations
• Negative Sentiment: Security headlines add pressure: Reports said Wiz’s AI agent identified a critical flaw in a Snowflake-related GitHub repository that another security tool missed. Although the reports do not indicate a broad platform breach, the episode may raise concerns about software-development controls and cybersecurity risk. Wiz AI Agent Finds Snowflake GitHub Repository Flaw

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.