Citigroup Increases Snowflake (NYSE:SNOW) Price Target to $490.00

Snowflake (NYSE:SNOW) had its target price hoisted by analysts at Citigroup from $395.00 to $490.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 30.89% from the company’s current price.

Other research analysts have also issued reports about the stock. BTIG Research raised their price target on shares of Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a research note on Thursday. Evercore reiterated an “outperform” rating and set a $430.00 price objective on shares of Snowflake in a research note on Thursday. Scotiabank reissued an “outperform” rating and set a $440.00 target price on shares of Snowflake in a report on Thursday. Wedbush raised their target price on Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, Truist Financial set a $425.00 price target on Snowflake in a research report on Thursday. Thirty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $402.11.

Snowflake Price Performance

Shares of SNOW stock traded up $68.53 during trading hours on Thursday, hitting $374.37. 13,264,231 shares of the company’s stock were exchanged, compared to its average volume of 6,791,646. Snowflake has a fifty-two week low of $118.30 and a fifty-two week high of $384.56. The firm has a market cap of $129.76 billion, a P/E ratio of -105.77 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. The firm has a 50 day moving average of $293.26 and a two-hundred day moving average of $218.27.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $0.35 earnings per share. The company’s revenue was up 35.1% compared to the same quarter last year. Sell-side analysts forecast that Snowflake will post -1.81 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 25,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was 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 of the company’s stock, valued at $110,623,175. This trade represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, August 7th. The stock was sold at an average price of $324.06, for a total value of $130,596.18. Following the transaction, the director owned 22,573 shares in the company, valued at approximately $7,315,006.38. This represents a 1.75% 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. Insiders sold a total of 1,156,901 shares of company stock worth $321,725,352 in the last three months. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in shares of Snowflake by 25,944.6% during the 2nd 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 last quarter. Nuveen LLC raised its stake in shares of Snowflake by 2.3% in the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after acquiring an additional 116,521 shares during the period. Geode Capital Management LLC raised its stake in shares of Snowflake by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after acquiring an additional 249,668 shares during the period. Norges Bank purchased a new position in shares of Snowflake during the 4th quarter worth approximately $974,091,000. Finally, Janus Henderson Group PLC increased its holdings in Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after purchasing an additional 544,960 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong quarterly beat: Snowflake reported adjusted EPS of $0.62 versus the $0.45 analyst consensus, while revenue reached $1.55 billion compared with expectations of $1.48 billion. Revenue increased 35.1% year over year. Snowflake quarterly earnings results
• Positive Sentiment: Raised outlook: Management lifted fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion, signaling stronger-than-expected demand for Snowflake’s cloud data platform and AI offerings. Snowflake shares surge as AI demand powers growth
• Positive Sentiment: AI momentum is becoming measurable: Product revenue grew 37%, helped by adoption of AI products including the CoCo coding agent, which added more than 2,000 accounts. Management described an “AI flywheel” in which AI workloads drive consumption and customer expansion. Snowflake earnings call highlights
• Positive Sentiment: Analyst support increased: UBS raised its price target to $500 and initiated a “buy” rating. DA Davidson, Canaccord Genuity, BTIG, Citizens JMP and Monness Crespi & Hardt also raised targets, generally citing AI-driven growth and the improved outlook.
• Neutral Sentiment: Mixed Wall Street views: Guggenheim reaffirmed its “neutral” rating, highlighting that the stock’s sharp rally has increased expectations and valuation risk. Wall Street analysts on Snowflake
• Negative Sentiment: Profitability remains a concern: Snowflake lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads raise infrastructure costs. The company also continues to report GAAP losses and substantial stock-based compensation, despite management targeting break-even next year. Snowflake’s hidden warning in Q2

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.