Snowflake (NYSE:SNOW) Price Target Raised to $424.00

Snowflake (NYSE:SNOW) had its target price hoisted by BTIG Research from $340.00 to $424.00 in a research report report published on Thursday, Marketbeat reports. BTIG Research currently has a buy rating on the stock.

SNOW has been the topic of several other research reports. Cantor Fitzgerald boosted their price objective on Snowflake from $282.00 to $405.00 and gave the company an “overweight” rating in a report on Monday, August 31st. The Goldman Sachs Group raised their target price on Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Snowflake in a research report on Wednesday, August 19th. Robert W. Baird set a $450.00 price target on shares of Snowflake in a research note on Thursday. Finally, Jefferies Financial Group set a $430.00 price target on shares of Snowflake and gave the stock a “buy” rating in a research report on Thursday. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $414.24.

Snowflake Stock Down 5.0%

Shares of NYSE SNOW opened at $338.47 on Thursday. The firm has a market cap of $117.31 billion, a price-to-earnings ratio of -106.44 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake has a 52-week low of $118.30 and a 52-week high of $384.56. The business’s 50 day moving average is $297.66 and its two-hundred day moving average is $220.33.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue was up 35.1% compared to the same quarter last year. Research analysts predict that Snowflake will post -1.8 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 289,685 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $274.39, for a total value of $79,486,667.15. Following the sale, the director owned 28,535 shares of the company’s stock, valued at $7,829,718.65. This trade represents a 91.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $325.00, for a total value 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 represents a 6.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,131,160 shares of company stock worth $317,966,701. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Snowflake

A number of large investors have recently made changes to their positions in SNOW. Parkside Financial Bank & Trust raised its holdings in Snowflake by 15.6% in the second quarter. Parkside Financial Bank & Trust now owns 334 shares of the company’s stock valued at $85,000 after acquiring an additional 45 shares in the last quarter. Range Advisory LLC purchased a new stake in shares of Snowflake in the 2nd quarter valued at approximately $210,000. Carlson Financial Inc. acquired a new stake in shares of Snowflake in the 2nd quarter valued at $240,000. California State Teachers Retirement System raised its holdings in shares of 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 valued at $32,408,183,000 after purchasing an additional 126,851,670 shares in the last quarter. Finally, Alan B Lancz & Associates Inc. purchased a new stake in shares of Snowflake during the 2nd quarter worth $202,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake News Summary

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.