Snowflake (NYSE:SNOW) Stock Price Expected to Rise, KeyCorp Analyst Says

Key Points

• KeyCorp raised its price target on Snowflake from $200 to $285 and kept an overweight rating, implying roughly 21% upside from the prior close. Several other firms also lifted targets, reinforcing bullish sentiment around the stock.
• Snowflake’s latest earnings beat expectations, reporting EPS of $0.39 on revenue of $1.39 billion, with revenue up 33.5% year over year. The company also raised its annual product revenue outlook, signaling stronger demand for its AI and cloud offerings.
• The stock surged sharply on the news, trading up to $235.67 with volume far above average and nearing its 52-week high. Despite the rally, Snowflake remains unprofitable and insiders have sold shares in recent months.

Snowflake (NYSE:SNOW - Get Free Report) had its price target boosted by equities researchers at KeyCorp from $200.00 to $285.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's target price points to a potential upside of 20.93% from the stock's previous close.

Several other research firms have also commented on SNOW. Truist Financial set a $125.00 target price on shares of Snowflake in a research note on Wednesday, April 15th. UBS Group reissued a "buy" rating and set a $325.00 price objective on shares of Snowflake in a research note on Thursday. Monness Crespi & Hardt lifted their target price on Snowflake from $282.00 to $320.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $284.00 target price on shares of Snowflake in a report on Thursday. Finally, Cantor Fitzgerald set a $282.00 target price on shares of Snowflake in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $277.03.

Snowflake Price Performance

SNOW stock traded up $60.41 during trading hours on Thursday, hitting $235.67. 19,288,676 shares of the stock traded hands, compared to its average volume of 6,949,168. The stock has a 50-day simple moving average of $153.75 and a 200 day simple moving average of $190.65. The company has a market cap of $81.47 billion, a P/E ratio of -59.90 and a beta of 1.08. Snowflake has a one year low of $118.30 and a one year high of $280.67. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18.

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

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $175.19, for a total value of $8,818,714.22. Following the transaction, the director owned 30,236 shares in the company, valued at $5,297,044.84. This represents a 62.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 144,650 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $175.45, for a total transaction of $25,378,842.50. Following the completion of the sale, the director directly owned 38,046 shares of the company's stock, valued at $6,675,170.70. This trade represents a 79.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 428,963 shares of company stock worth $71,996,216. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after acquiring an additional 29,320 shares in the last quarter. Intech Investment Management LLC increased its position in Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock worth $1,637,000 after purchasing an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Snowflake during the 2nd quarter worth about $221,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Snowflake by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company's stock valued at $5,055,000 after buying an additional 1,521 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Snowflake

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.

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