Snowflake (NYSE:SNOW) Reaches New 1-Year High After Analyst Upgrade

Key Points

• Snowflake shares reached a new 52-week high after BTIG Research raised its price target from $325 to $340 and maintained a buy rating. The stock traded as high as $315.42, up from a prior close of $293.28.
• Analyst sentiment remains broadly positive, with 34 buy ratings, five holds and one sell; the consensus rating is “Moderate Buy,” with an average price target of $296.68.
• Snowflake reported quarterly revenue of $1.39 billion, up 33.5% year over year, and adjusted EPS of $0.39, exceeding estimates. However, insiders sold more than 2 million shares worth approximately $505.9 million over the past 90 days, while institutional investors own 65.1% of the stock.

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after BTIG Research raised their price target on the stock from $325.00 to $340.00. BTIG Research currently has a buy rating on the stock. Snowflake traded as high as $315.42 and last traded at $307.8310, with a volume of 7981879 shares trading hands. The stock had previously closed at $293.28.

SNOW has been the subject of several other research reports. Canaccord Genuity Group increased their target price on shares of Snowflake from $240.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Sanford C. Bernstein boosted their price target on Snowflake from $195.00 to $250.00 and gave the company a "market perform" rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. upped their target price on Snowflake from $245.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. DA Davidson raised their target price on Snowflake from $250.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, TD Cowen reissued a "buy" rating and set a $300.00 price target on shares of Snowflake in a report on Wednesday, June 3rd. Thirty-four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.68.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 10,315 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $275.10, for a total value of $2,837,656.50. Following the completion of the transaction, the director owned 28,535 shares in the company, valued at $7,849,978.50. The trade was a 26.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 840 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $257.91, for a total value of $216,644.40. Following the completion of the transaction, the director owned 26,876 shares in the company, valued at $6,931,589.16. The trade was a 3.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 2,081,260 shares of company stock worth $505,874,831. 4.80% of the stock is currently owned by company insiders.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: BTIG raises price target: BTIG Research increased its Snowflake price target from $325 to $340 and maintained a “buy” rating, implying further upside and signaling confidence in demand for Snowflake’s data-cloud and AI offerings. Snowflake To Rally Around 16%? Here Are 10 Top Analyst Forecasts For Monday
• Positive Sentiment: AI-cloud rally lifts SNOW: Snowflake gained alongside CoreWeave and Oracle as a broad risk-on mood drove buying across AI infrastructure and cloud stocks. This indicates strong sector momentum, although the move is partly market-driven rather than specific to Snowflake. CoreWeave Jumps 11%, Snowflake Gains 6%, Oracle Climbs 5% as Risk-On Mood Lifts AI Cloud
• Positive Sentiment: Enterprise AI positioning: Coverage comparing Snowflake with Palantir highlights both companies’ recent results and their roles in the enterprise AI stack. Snowflake’s focus on trusted enterprise data and context supports the long-term growth narrative. Palantir vs. Snowflake: Which Growth Stock Is the Better Buy?
• Neutral Sentiment: Insider sales disclosed: EVP Christian Kleinerman sold a combined 29,986 shares for approximately $9 million under a pre-arranged Rule 10b5-1 trading plan. Because the sales were scheduled in advance and he retained about 375,379 shares, the transactions are a limited concern but may temper sentiment near recent highs. SEC insider trading filing

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company's stock valued at $6,601,790,000 after buying an additional 1,448,094 shares during the period. Jennison Associates LLC boosted its holdings in shares of Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after buying an additional 2,519,413 shares during the period. Nuveen LLC increased its holdings in Snowflake by 2.3% during the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company's stock worth $1,157,749,000 after purchasing an additional 116,521 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Snowflake by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company's stock worth $1,052,195,000 after buying an additional 249,668 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Snowflake during the 4th quarter worth approximately $974,091,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 5.0%

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The business's 50-day moving average is $253.43 and its two-hundred day moving average is $197.89. The firm has a market cap of $106.69 billion, a P/E ratio of -87.45 and a beta of 1.33.

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. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. Snowflake's quarterly revenue was up 33.5% on a year-over-year basis. As a group, analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

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.

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