Snowflake (NYSE:SNOW) Price Target Raised to $300.00

Key Points

• DA Davidson raised its price target on Snowflake from $250 to $300 and kept a buy rating, implying about 27% upside from the current price.
• Snowflake also saw broader analyst support, with firms like Morgan Stanley, KeyCorp, Raymond James, and Citigroup reiterating or improving positive ratings; the consensus view remains Moderate Buy with an average target of $268.87.
• The stock rallied sharply after strong quarterly results, with Snowflake beating earnings and revenue expectations and raising its product revenue outlook, while investors also reacted to its new $6 billion AWS collaboration.

Snowflake (NYSE:SNOW - Get Free Report) had its price target upped by DA Davidson from $250.00 to $300.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price target suggests a potential upside of 27.00% from the stock's current price.

Other analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on Snowflake from $245.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday. KeyCorp reiterated an "overweight" rating on shares of Snowflake in a research report on Wednesday, May 20th. Guggenheim reissued a "neutral" rating on shares of Snowflake in a report on Wednesday, February 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $275.00 price objective on shares of Snowflake in a research note on Thursday. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Snowflake in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $268.87.

Snowflake Stock Performance

NYSE SNOW traded up $60.96 during trading hours on Thursday, reaching $236.22. 17,333,122 shares of the company were exchanged, compared to its average volume of 6,924,302. The stock has a market capitalization of $81.66 billion, a P/E ratio of -59.86 and a beta of 1.08. 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 has a 1 year low of $118.30 and a 1 year high of $280.67. The business's 50 day simple moving average is $153.75 and its 200-day simple moving average is $190.65.

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

Insider Activity at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 3,876 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $152.80, for a total value of $592,252.80. Following the transaction, the senior vice president owned 273,323 shares in the company, valued at approximately $41,763,754.40. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 144,650 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $175.45, for a total value of $25,378,842.50. Following the transaction, the director directly owned 38,046 shares of the company's stock, valued at $6,675,170.70. The trade was a 79.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 428,963 shares of company stock worth $71,996,216 over the last ninety days. Insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Brighton Jones LLC boosted its position in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Intech Investment Management LLC lifted its position in Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock valued at $1,637,000 after buying an additional 2,167 shares during the period. Geneos Wealth Management Inc. lifted its position in Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock valued at $47,000 after buying an additional 73 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of Snowflake during the 2nd quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company's stock worth $5,055,000 after buying an additional 1,521 shares during the period. Hedge funds and other 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: Snowflake reported first-quarter fiscal 2027 results that beat expectations, with EPS of $0.39 and revenue of $1.39 billion, while product revenue rose 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 that enterprise AI and cloud migration demand is improving faster than expected. Snowflake jumps as enterprise demand for data offerings drives forecast raise
• Positive Sentiment: Snowflake announced a five-year, $6 billion strategic collaboration with Amazon Web Services, including use of AWS Graviton processors and AI infrastructure, which investors view as a major growth catalyst. Snowflake Expands AWS Collaboration with $6B Commitment to Accelerate Enterprise Agentic AI Adoption
• Positive Sentiment: Several Wall Street firms raised price targets and reiterated buy ratings, including Bank of America, Benchmark, Needham, Stifel, and Monness Crespi & Hardt, reinforcing bullish sentiment after the earnings report. Analyst price target updates
• Neutral Sentiment: Snowflake also announced it intends to acquire Natoma, a move aimed at improving governance and secure connectivity for AI agents; the deal is strategically important but still needs to close. Snowflake Announces Intent to Acquire Natoma
• Negative Sentiment: Despite the rally, Snowflake remains unprofitable on a GAAP basis and its valuation has risen sharply, which could make the stock more sensitive to any slowdown in AI spending or execution missteps.

About Snowflake

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.