Canaccord Genuity Group Increases Snowflake (NYSE:SNOW) Price Target to $450.00

Key Points

• Canaccord Genuity raised Snowflake’s price target to $450 from $325 and reiterated its “buy” rating, implying 46.43% 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 broadly positive, with 34 buy ratings and a consensus “Moderate Buy” rating, though valuation, ongoing losses, stock-based compensation and substantial insider selling remain key risks.

Snowflake (NYSE:SNOW - Get Free Report) had its target price lifted by research analysts at Canaccord Genuity Group from $325.00 to $450.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 46.43% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Snowflake from $313.00 to $372.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Wedbush lifted their price objective on Snowflake from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Rosenblatt Securities boosted their target price on Snowflake from $285.00 to $345.00 and gave the stock a "buy" rating in a research report on Tuesday. Benchmark upped their target price on Snowflake from $290.00 to $360.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Finally, Mizuho upped their target price on Snowflake from $295.00 to $355.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Thirty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $359.68.

Snowflake Stock Down 3.9%

Snowflake stock opened at $307.31 on Thursday. Snowflake has a twelve month low of $118.30 and a twelve month high of $341.95. 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 price of $293.26 and a 200-day moving average price of $218.27. The company has a market capitalization of $106.51 billion, a P/E ratio of -87.30 and a beta of 1.33.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.55 billion during 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 firm's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, equities analysts predict that Snowflake will post -1.81 EPS for the current year.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 48,990 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $320.78, for a total value of $15,715,012.20. Following the completion of the transaction, the director directly owned 28,535 shares in the company, valued at approximately $9,153,457.30. The trade was a 63.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at $110,623,175. This trade represents a 6.84% 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. In the last ninety days, insiders sold 1,156,901 shares of company stock valued at $321,725,352. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new position in Snowflake during the fourth quarter valued at approximately $28,000. Greenline Wealth Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $29,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Snowflake by 140.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company's stock worth $30,000 after acquiring an additional 118 shares during the last quarter. Emerald Advisers LLC boosted its stake in shares of Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Snowflake during the 4th quarter valued at $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Snowflake

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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