Snowflake (NYSE:SNOW) Price Target Raised to $426.00

Snowflake (NYSE:SNOW) had its price target increased by JPMorgan Chase & Co. from $285.00 to $426.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also commented on SNOW. Needham & Company LLC upped their target price on Snowflake from $330.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush lifted their price objective on shares of Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Truist Financial set a $425.00 price objective on shares of Snowflake and gave the company a “buy” rating in a report on Thursday. UBS Group increased their price objective on shares of Snowflake from $425.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Snowflake in a report on Thursday. Thirty-four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $414.24.

Snowflake Stock Performance

Shares of SNOW opened at $338.47 on Thursday. 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 stock has a 50-day moving average of $297.66 and a two-hundred day moving average of $220.33. The stock has a market cap of $117.31 billion, a P/E ratio of -106.44 and a beta of 1.33. Snowflake has a one year low of $118.30 and a one year high of $384.56.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating 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 business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The company’s revenue was up 35.1% on a year-over-year basis. As a group, research analysts predict that Snowflake will post -1.8 EPS for the current year.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 48,990 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $320.78, for a total value of $15,715,012.20. Following the sale, the director owned 28,535 shares in the company, valued at approximately $9,153,457.30. This represents a 63.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $380.00, for a total transaction of $3,800,000.00. Following the transaction, the executive vice president directly owned 18,568 shares of the company’s stock, valued at approximately $7,055,840. This trade represents a 35.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,131,160 shares of company stock worth $317,966,701. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of Snowflake by 15.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 334 shares of the company’s stock valued at $85,000 after acquiring an additional 45 shares during the period. Tsfg LLC raised its holdings in Snowflake by 27.8% in the 2nd quarter. Tsfg LLC now owns 230 shares of the company’s stock worth $59,000 after purchasing an additional 50 shares during the period. Johnson Investment Counsel Inc. raised its holdings in Snowflake by 4.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 1,383 shares of the company’s stock worth $303,000 after purchasing an additional 60 shares during the period. Great Valley Advisor Group Inc. boosted its position in Snowflake by 4.4% during the fourth quarter. Great Valley Advisor Group Inc. now owns 1,438 shares of the company’s stock worth $316,000 after purchasing an additional 60 shares in the last quarter. Finally, LRI Investments LLC boosted its position in Snowflake by 4.5% during the fourth quarter. LRI Investments LLC now owns 1,437 shares of the company’s stock worth $315,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Trending Headlines about Snowflake

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.

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.