Snowflake (NYSE:SNOW) Stock Price Up 2.2% - Here's What Happened

Key Points

• Snowflake shares rose 2.2% to about $338.25, with trading volume below its average. The stock has gained roughly 51% in 2026.
• Recent results exceeded expectations, with revenue up 35.1% year over year to $1.55 billion and adjusted EPS of $0.62 versus the $0.45 consensus. Analysts remain bullish, assigning a “Moderate Buy” consensus and an average price target of $414.24.
• AI adoption and customer expansion are supporting the growth outlook, but valuation remains a key risk because Snowflake continues to report net losses and trades at a premium to slower-growing peers.

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s share price rose 2.2% during trading on Thursday . The company traded as high as $344.66 and last traded at $338.2510. Approximately 4,286,256 shares were traded during trading, a decline of 36% from the average session volume of 6,737,804 shares. The stock had previously closed at $331.02.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Wall Street’s average price target implies approximately 28.7% upside for Snowflake. Analysts are also revising earnings estimates favorably, which may support continued investor interest. Wall Street Analysts Think Snowflake Could Surge 28.74%
• Positive Sentiment: Analysts continue to point to accelerating AI adoption, customer expansion and Snowflake’s “AI flywheel” as drivers of growth. Scotiabank reportedly maintained an outperform rating and a $440 target, while the broader analyst consensus is a “Moderate Buy” with an average target of $414.24.
• Positive Sentiment: Recent quarterly results provide fundamental support: revenue reached about $1.55 billion, up 35.1% year over year, while adjusted EPS of $0.62 exceeded the $0.45 consensus estimate. Investors are also encouraged by higher guidance, improved margin expectations and Snowflake’s completed $3.7 billion share-repurchase program.
• Positive Sentiment: Snowflake Cortex AI is gaining commercial traction. QAD | Redzone’s ChampionAI uses the platform to address manufacturing productivity and labor challenges, offering another example of enterprise AI adoption. QAD Redzone’s ChampionAI Powered by Snowflake Cortex AI
• Neutral Sentiment: Several executives and directors sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. The transactions reduce insider holdings but do not necessarily signal weakening confidence in Snowflake’s outlook.
• Negative Sentiment: Valuation remains the principal concern. SNOW has already risen roughly 51% in 2026 and trades at a premium to slower-growing peers despite continuing to report net losses. Any slowdown in AI adoption, usage growth or progress toward profitability could trigger profit-taking.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Truist Financial set a $425.00 price target on shares of Snowflake and gave the company a "buy" rating in a report on Thursday, September 3rd. Evercore restated an "outperform" rating and issued a $430.00 price objective on shares of Snowflake in a report on Thursday, September 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $450.00 target price (up from $320.00) on shares of Snowflake in a research report on Thursday, September 3rd. TD Cowen lifted their target price on shares of Snowflake from $370.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of Snowflake from $372.00 to $440.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $414.24.

Snowflake Stock Up 2.2%

The company has a market capitalization of $119.33 billion, a P/E ratio of -106.37 and a beta of 1.33. The company has a 50-day moving average of $309.17 and a two-hundred day moving average of $229.61. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.17. The business 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 46.32% and a negative net margin of 20.07%.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 earnings per share. On average, research analysts predict that Snowflake Inc. will post -1.57 EPS for the current year.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 768 shares of the business's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $332.93, for a total transaction of $255,690.24. Following the sale, the chief accounting officer owned 39,958 shares of the company's stock, valued at $13,303,216.94. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Christian Kleinerman sold 2,986 shares of the company's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $318.51, for a total transaction of $951,070.86. Following the completion of the sale, the executive vice president owned 334,013 shares in the company, valued at approximately $106,386,480.63. This trade represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 1,045,087 shares of company stock worth $314,431,792. 4.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in the stock. Anchor Investment Management LLC purchased a new stake in shares of Snowflake in the 2nd quarter worth approximately $76,000. Sequoia Financial Advisors LLC raised its stake in Snowflake by 14.2% during the second quarter. Sequoia Financial Advisors LLC now owns 39,598 shares of the company's stock valued at $10,078,000 after buying an additional 4,927 shares during the last quarter. MCF Advisors LLC boosted its holdings in Snowflake by 1,557.9% in the second quarter. MCF Advisors LLC now owns 315 shares of the company's stock worth $80,000 after acquiring an additional 296 shares in the last quarter. National Pension Service boosted its holdings in Snowflake by 3.3% in the second quarter. National Pension Service now owns 690,349 shares of the company's stock worth $175,694,000 after acquiring an additional 21,915 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in shares of Snowflake by 434.3% in the second quarter. Engineers Gate Manager LP now owns 156,869 shares of the company's stock worth $39,923,000 after acquiring an additional 127,511 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Company Profile

Snowflake Inc NYSE: SNOW is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.

Snowflake's Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake's marketplace and partner ecosystem.

Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.

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