BTIG Research Raises Snowflake (NYSE:SNOW) Price Target to $424.00

Key Points

• BTIG Research raised Snowflake’s price target from $340 to $424 and maintained a “buy” rating, implying roughly 38% upside from the prior close.
• Snowflake exceeded quarterly expectations, reporting adjusted EPS of $0.62 versus $0.45 expected and revenue of $1.55 billion versus $1.48 billion, with revenue up 35.1% year over year.
• Analyst sentiment remains favorable, with 34 buy ratings and a $356.30 consensus target, although Snowflake’s high valuation, ongoing losses and insider selling remain risks.

Snowflake (NYSE:SNOW - Get Free Report) had its price target boosted by equities researchers at BTIG Research from $340.00 to $424.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's target price suggests a potential upside of 37.97% from the company's previous close.

Several other equities research analysts have also recently commented on SNOW. Morgan Stanley restated an "overweight" rating and issued a $300.00 target price on shares of Snowflake in a research note on Wednesday, August 19th. Canaccord Genuity Group boosted their price objective on shares of Snowflake from $240.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Stifel Nicolaus set a $350.00 target price on shares of Snowflake in a report on Tuesday, August 18th. Scotiabank raised their target price on shares of Snowflake from $285.00 to $320.00 and gave the company a "sector outperform" rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Snowflake in a research note 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $356.30.

Snowflake Price Performance

Shares of NYSE SNOW opened at $307.31 on Thursday. The firm has a market cap of $106.51 billion, a PE ratio of -87.30 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake has a 1-year low of $118.30 and a 1-year high of $341.95. The company has a fifty day moving average price of $293.26 and a 200 day moving average price of $218.27.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company's revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Research analysts predict that Snowflake will post -1.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 25,000 shares of Snowflake stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $325.00, for a total transaction of $8,125,000.00. Following the completion of the transaction, the executive vice president owned 340,379 shares in the company, valued at approximately $110,623,175. This trade represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 completion of the transaction, the director directly owned 22,573 shares in the company, valued at $7,315,006.38. The trade was a 1.75% decrease in their ownership of the stock. 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 valued at $321,725,352. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in shares of Snowflake by 25,944.6% during the second 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 in the last quarter. Norges Bank acquired a new stake in shares of Snowflake during the 4th quarter valued at $974,091,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Snowflake during the 4th quarter valued at $345,619,000. William Blair Investment Management LLC grew its position in Snowflake by 159.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company's stock worth $295,477,000 after acquiring an additional 828,789 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Snowflake by 44.7% during the 1st 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 during the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Quarterly results exceeded expectations: Snowflake reported adjusted EPS of $0.62 versus the $0.45 consensus estimate and revenue of $1.55 billion versus $1.48 billion expected. Revenue rose 35.1% year over year, while product revenue increased 37% to $1.49 billion. Snowflake lifts annual product revenue forecast
• Positive Sentiment: Raised guidance and improving profitability outlook: Management lifted its full-year product-revenue forecast and indicated fiscal 2027 product revenue of approximately $6.07 billion, alongside a 14.5% non-GAAP operating-margin target. The upgraded outlook suggests durable demand for Snowflake’s cloud data platform. Snowflake FY 2027 guidance
• Positive Sentiment: AI adoption is becoming a growth catalyst: Snowflake cited momentum in its AI coding agent CoCo and other offerings such as CoWork and Cortex. Analysts believe AI-driven workloads could continue to accelerate consumption and expand Snowflake’s competitive advantages. Wall Street analysts discuss Snowflake
• Positive Sentiment: Analyst support remains strong: Rosenblatt raised its price target to $345 and maintained a Buy rating. Other analysts see additional upside as Snowflake benefits from the AI trend. Rosenblatt price target
• Neutral Sentiment: Customer adoption provides validation: Sayari selected Snowflake to rebuild its commercial data model for AI, potentially reducing its data-infrastructure costs by more than 50%. However, the company has not quantified the revenue contribution from customers adopting AI. Sayari selects Snowflake
• Negative Sentiment: High valuation and ongoing losses remain concerns: Despite the earnings beat, Snowflake trades at an elevated valuation, has a negative GAAP net margin and return on equity, and faces criticism over stock-based compensation and dilution. High short interest could increase volatility if future growth or AI monetization disappoints.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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