Snowflake (NYSE:SNOW) Price Target Raised to $405.00

Snowflake (NYSE:SNOW) had its price target upped by Cantor Fitzgerald from $282.00 to $405.00 in a research note released on Monday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein raised their target price 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. Canaccord Genuity Group upped their price target on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. TD Cowen increased their price objective on shares of Snowflake from $300.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, August 20th. BTIG Research raised their price objective on shares of Snowflake from $325.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Scotiabank raised their price objective on shares of Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a research note on Monday, June 8th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.30.

Snowflake Price Performance

Shares of SNOW opened at $307.31 on Monday. Snowflake has a one year low of $118.30 and a one year high of $341.95. The stock’s fifty day moving average is $293.26 and its 200-day moving average is $218.27. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $106.51 billion, a price-to-earnings ratio of -87.30 and a beta of 1.33.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. The business 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 23.79% and a negative return on equity of 50.50%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. Equities analysts anticipate that Snowflake will post -1.81 EPS for the current year.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 25,000 shares of the company’s 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 of the company’s stock, valued at approximately $110,623,175. This represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $324.06, for a total transaction of $130,596.18. Following the transaction, the director owned 22,573 shares of the company’s stock, valued at approximately $7,315,006.38. This trade 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. Over the last three months, insiders have sold 1,156,901 shares of company stock worth $321,725,352. 4.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in 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 buying an additional 126,851,670 shares during the period. Norges Bank acquired a new position in shares of Snowflake in the fourth quarter worth about $974,091,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Snowflake in the fourth quarter worth about $345,619,000. William Blair Investment Management LLC boosted its holdings in shares of Snowflake by 159.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company’s stock worth $295,477,000 after buying an additional 828,789 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of Snowflake by 44.7% in the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after acquiring an additional 803,110 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Q2 results exceeded expectations. Snowflake reported earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue reached $1.55 billion, up 35.1% year over year and above analysts’ $1.48 billion forecast. Product revenue was $1.49 billion, an increase of 37%. Snowflake lifts annual product revenue forecast, shares soar
• Positive Sentiment: Raised guidance provided the biggest bullish catalyst. Management lifted its full-year product-revenue forecast, signaling confidence in continued demand for the cloud data platform and AI offerings. Snowflake Jumps on Revenue Outlook, Uptake of AI Assistant
• Positive Sentiment: AI adoption is strengthening the growth narrative. Snowflake highlighted rapid uptake of its AI-assisted coding tools, including the CoCo coding agent and CoWork. Investors view these products as potential growth accelerators and evidence that Snowflake is benefiting from rising enterprise AI workloads. Snowflake spikes on healthy results and AI coding momentum
• Positive Sentiment: CEO Sridhar Ramaswamy said Snowflake remains on track to reach break-even next year, supporting expectations for improving profitability alongside growth.
• Positive Sentiment: Sayari selected Snowflake to rebuild its Commercial World Model, potentially reducing its data-infrastructure costs by more than 50% and adding validation for Snowflake’s AI Data Cloud. Sayari Rebuilds Its Commercial World Model on Snowflake

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.