Needham & Company LLC Raises Snowflake (NYSE:SNOW) Price Target to $300.00

Key Points

• Needham & Company raised its price target on Snowflake to $300 from $200 and kept a buy rating, implying about 71.8% upside from the prior close.
• Other analysts remain broadly positive: Goldman Sachs also lifted its target to $278, while the overall consensus rating is still Moderate Buy with an average price target of $254.11.
• Snowflake’s latest quarterly results beat expectations, with $0.39 EPS on $1.39 billion in revenue, and the company also raised its annual product revenue outlook amid strong AI and cloud demand.

Snowflake (NYSE:SNOW - Get Free Report) had its price objective increased by equities research analysts at Needham & Company LLC from $200.00 to $300.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 71.82% from the company's previous close.

Several other analysts also recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Snowflake from $216.00 to $278.00 and gave the company a "buy" rating in a report on Thursday. Oppenheimer reaffirmed a "buy" rating on shares of Snowflake in a report on Thursday, February 26th. DA Davidson dropped their price objective on shares of Snowflake from $300.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. TD Cowen reaffirmed a "buy" rating on shares of Snowflake in a report on Friday, May 22nd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Snowflake in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.11.

Snowflake Stock Down 1.7%

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

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

Insider Activity

In related 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 sale, the senior vice president directly owned 273,323 shares of the company's stock, valued at approximately $41,763,754.40. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,621 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $170.01, for a total transaction of $445,596.21. Following the sale, the executive vice president directly owned 533,494 shares in the company, valued at $90,699,314.94. This trade represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 428,963 shares of company stock valued at $71,996,216 in the last three months. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of Snowflake

Hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in Snowflake during the fourth quarter valued at $28,000. Greenline Wealth Management LLC purchased a new position in Snowflake during the fourth quarter valued at $29,000. GoalVest Advisory LLC lifted its holdings in Snowflake by 221.4% during 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 in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in Snowflake by 56.0% during 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 in the last quarter. Finally, Emerald Advisers LLC lifted its holdings in Snowflake by 95.2% during 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 in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.

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