Snowflake (NYSE:SNOW) Price Target Raised to $345.00

Snowflake (NYSE:SNOW) had its target price lifted by Rosenblatt Securities from $285.00 to $345.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on SNOW. Sanford C. Bernstein lifted their price target on Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, May 28th. Wells Fargo & Company restated an “overweight” rating on shares of Snowflake in a research note on Wednesday, July 29th. Piper Sandler raised their price objective on Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their target price on Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings lowered Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Thirty-four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $410.19.

Snowflake Price Performance

NYSE SNOW opened at $356.78 on Tuesday. The company has a market cap of $123.66 billion, a PE ratio of -112.19 and a beta of 1.33. The firm’s 50 day moving average price is $295.85 and its 200-day moving average price is $219.50. 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 issued its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. Snowflake’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts forecast that Snowflake will post -1.81 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 25,000 shares of the stock in a transaction on Friday, August 7th. The stock was 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 owned 340,379 shares in the company, valued at approximately $110,623,175. This represents a 6.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Speiser sold 50,338 shares of the firm’s stock in a transaction on 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 completion of the sale, the director directly owned 26,036 shares of the company’s stock, valued at $8,437,226.16. The trade was 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. Over the last three months, insiders have sold 1,131,160 shares of company stock valued at $317,966,701. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in shares of Snowflake by 25,944.6% during the second 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 purchased a new position in Snowflake during the 4th quarter worth approximately $974,091,000. Jericho Capital Asset Management L.P. acquired a new stake in Snowflake during the 4th quarter valued at approximately $345,619,000. William Blair Investment Management LLC lifted its stake in Snowflake by 159.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company’s stock valued at $295,477,000 after acquiring an additional 828,789 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in Snowflake by 44.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock valued at $392,259,000 after acquiring an additional 803,110 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong earnings beat and accelerating growth: Snowflake reported adjusted earnings of $0.62 per share, ahead of the $0.45 consensus estimate, while revenue rose 35.1% year over year to $1.55 billion, topping the $1.48 billion forecast. Product revenue increased 37% to approximately $1.49 billion. Snowflake spikes on healthy results and AI coding momentum
• Positive Sentiment: AI demand is becoming a growth catalyst: Management said AI contributed about half of the company’s outperformance, with adoption of its CoCo AI coding agent adding more than 2,000 accounts. Broad-based demand across customers, workloads and geographies further strengthened the growth outlook. Snowflake Stock Soars as Surging AI Demand Boosts Earnings
• Positive Sentiment: Raised guidance: Snowflake lifted fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion, signaling that cloud consumption and AI-related demand are exceeding prior expectations. The company also remains on track to reach break-even next year, according to CEO Sridhar Ramaswamy.
• Positive Sentiment: Analysts turned more bullish: JPMorgan, UBS, Citi, TD Cowen, Bank of America and several other firms raised price targets, with targets reaching as high as $500 and ratings including Buy, Overweight and Market Outperform. Wall Street analyst views

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.