Bank of America Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Key Points

• Bank of America raised its price target on Snowflake from $205 to $300 and kept a buy rating, implying about 71.8% upside from the prior close.
• Other analysts were mixed but generally constructive: several reiterated outperform/buy-type ratings, and Snowflake’s overall consensus remains Moderate Buy with an average price target of $258.82.
• Snowflake also reported strong recent results, beating EPS and revenue estimates, and it raised its annual product revenue forecast amid growing demand tied to AI workloads and cloud migration.

Snowflake (NYSE:SNOW - Get Free Report) had its price objective raised by equities research analysts at Bank of America from $205.00 to $300.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 71.82% from the stock's previous close.

A number of other equities analysts also recently weighed in on SNOW. Scotiabank dropped their price target on shares of Snowflake from $290.00 to $205.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 26th. Cantor Fitzgerald dropped their price target on shares of Snowflake from $250.00 to $225.00 and set an "overweight" rating on the stock in a research note on Tuesday. Raymond James Financial reaffirmed an "outperform" rating and issued a $275.00 price target on shares of Snowflake in a research note on Thursday. Zacks Research raised shares of Snowflake from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $284.00 price target on shares of Snowflake in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and an average price target of $258.82.

Snowflake Price Performance

SNOW opened at $174.60 on Thursday. The stock has a fifty day moving average of $153.75 and a 200-day moving average of $190.65. The firm has a market capitalization of $60.36 billion, a P/E ratio of -44.20 and a beta of 1.08. Snowflake has a 12-month low of $118.30 and a 12-month high of $280.67. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company's revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities analysts forecast that Snowflake will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 3,876 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $152.80, for a total transaction of $592,252.80. Following the transaction, the senior vice president directly owned 273,323 shares of the company's stock, valued at $41,763,754.40. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $175.19, for a total transaction of $8,818,714.22. Following the transaction, the director directly owned 30,236 shares in the company, valued at $5,297,044.84. The trade was a 62.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 428,963 shares of company stock valued at $71,996,216. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of SNOW. Kemnay Advisory Services Inc. acquired a new position in Snowflake during the fourth quarter worth $28,000. Greenline Wealth Management LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $29,000. GoalVest Advisory LLC grew its position in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock valued at $30,000 after purchasing an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. grew its position in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. Finally, Emerald Advisers LLC grew its position in shares of Snowflake by 95.2% in the first quarter. Emerald Advisers LLC now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake reported Q1 fiscal 2027 earnings of $0.39 per share, topping estimates of $0.32, on revenue of $1.39 billion versus expectations of $1.32 billion, with product revenue up 34% year over year. Snowflake Reports Financial Results for the First Quarter of Fiscal 2027
• Positive Sentiment: The company raised its annual product revenue forecast, signaling stronger-than-expected demand from enterprises adopting AI-driven workloads and cloud migrations. Snowflake raises annual product revenue forecast as enterprises ramp up AI workloads
• Positive Sentiment: Snowflake announced a five-year, $6 billion strategic collaboration with AWS, including spending tied to Graviton processors and AI infrastructure, which investors see as a major validation of its AI expansion plans. Snowflake signs $6 billion deal with AWS tied to AI infrastructure
• Positive Sentiment: Snowflake also disclosed plans to acquire Natoma, an enterprise AI-agent connectivity platform, to strengthen its governance and identity layer for agentic AI use cases. Snowflake Announces Intent to Acquire Natoma, Providing Secure Connectivity For The Agentic Enterprise

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.