Snowflake (NYSE:SNOW) Trading 1.3% Higher – Here’s Why

Shares of Snowflake Inc. (NYSE:SNOW) were up 1.3% on Thursday . The stock traded as high as $176.85 and last traded at $175.4360. Approximately 3,800,729 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 6,172,910 shares. The stock had previously closed at $173.25.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake previewed Project SnowWork, an autonomous AI platform (research preview) designed to move customers from insights to automated workflows — a product expansion that could drive higher usage and upsell opportunities if adoption follows. Read article Snowflake Launches Project SnowWork
• Positive Sentiment: Snowflake Ventures made a strategic investment in Bedrock Data to strengthen AI data governance and integrate its capabilities into Snowflake Horizon — this supports enterprise AI credibility and could reduce friction for customers adopting Snowflake’s AI offerings. Read article Bedrock Data Secures Strategic Investment
• Neutral Sentiment: Analyst/features pieces continue to compare Snowflake favorably vs. peers (Alphabet) on AI adoption and customer growth — helpful for narrative and positioning, but not an immediate revenue guarantee. Read article Snowflake vs Alphabet: Which Cloud Analytics Stock Has an Edge Now?
• Negative Sentiment: Snowflake announced targeted job cuts (including technical-writing roles) even after its ~$200M OpenAI partnership — the layoffs raise near-term execution and morale concerns and highlight cost tradeoffs while ramping AI investments. Read article Snowflake Cuts Jobs After $200M OpenAI Partnership
• Negative Sentiment: Oppenheimer flagged that contribution margins from Cortex Code and AI workloads are lower than Snowflake’s core analytics workloads — implying AI revenue may be less profitable and could pressure overall margin expansion expectations. Read article Cortex Code and AI Workloads Contribution Margins
• Negative Sentiment: Multiple law firms are circulating class-action notices and soliciting lead plaintiffs in a securities suit (April 27 deadline), creating a legal overhang that can weigh on sentiment and increase potential litigation costs. Read article Rosen Law Firm Investor Notice
• Negative Sentiment: Recent insider sales (EVP Christian Kleinerman and Director Frank Slootman) were disclosed — large but not unusual — however such sales can add short-term selling pressure and feed negative sentiment. Read article Insider Sales Disclosure

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SNOW. Evercore lifted their price objective on shares of Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Zacks Research raised shares of Snowflake from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. KeyCorp reduced their price target on shares of Snowflake from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Truist Financial decreased their price target on shares of Snowflake from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Barclays dropped their price objective on shares of Snowflake from $204.00 to $192.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.58.

Snowflake Price Performance

The company has a market cap of $57.51 billion, a P/E ratio of -42.55 and a beta of 1.16. The firm’s 50-day moving average is $184.29 and its two-hundred day moving average is $219.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 48.50%. The business’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $206.77, for a total transaction of $41,354,000.00. Following the sale, the director directly owned 50,329 shares of the company’s stock, valued at $10,406,527.33. The trade was a 79.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $197.09, for a total value of $1,970,900.00. Following the sale, the executive vice president owned 461,351 shares in the company, valued at approximately $90,927,668.59. This trade represents a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 613,303 shares of company stock worth $117,229,707. Insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares during the period. Intech Investment Management LLC lifted its position in shares of Snowflake by 24.0% during the first 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 last quarter. Geneos Wealth Management Inc. lifted its position in shares of Snowflake by 29.7% during 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. Avantax Advisory Services Inc. boosted its stake in shares of Snowflake by 6.2% during the second quarter. Avantax Advisory Services Inc. now owns 9,351 shares of the company’s stock valued at $2,092,000 after purchasing an additional 544 shares during the period. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Snowflake by 56.0% during the second quarter. Kingsview Wealth Management LLC now owns 4,316 shares of the company’s stock valued at $966,000 after purchasing an additional 1,549 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.