TD Cowen Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Key Points

• TD Cowen raised its price target on Snowflake from $255 to $300 and kept a buy rating, implying about 27% upside from the prior close.
• Snowflake has also received a wave of bullish analyst updates, with several firms boosting targets after its earnings report; the stock now carries a consensus rating of Moderate Buy and an average target price of $277.03.
• The company’s latest quarterly results beat expectations, with EPS of $0.39 and revenue of $1.39 billion, and management also raised its annual product revenue forecast amid improving AI and cloud demand.

Snowflake (NYSE:SNOW - Get Free Report) had its price target increased by TD Cowen from $255.00 to $300.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price target indicates a potential upside of 27.30% from the company's previous close.

Several other research firms have also issued reports on SNOW. Truist Financial set a $125.00 target price on Snowflake in a report on Wednesday, April 15th. Evercore set a $200.00 price target on shares of Snowflake in a report on Tuesday, April 14th. Mizuho set a $295.00 price target on shares of Snowflake and gave the stock an "outperform" rating in a research report on Thursday. DA Davidson increased their target price on Snowflake from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday. Finally, UBS Group reaffirmed a "buy" rating and issued a $325.00 target price on shares of Snowflake in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $277.03.

Snowflake Stock Performance

SNOW stock traded up $60.41 during midday trading on Thursday, hitting $235.67. The stock had a trading volume of 19,288,676 shares, compared to its average volume of 6,949,168. Snowflake has a 52 week low of $118.30 and a 52 week 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. The firm has a market capitalization of $81.47 billion, a price-to-earnings ratio of -59.90 and a beta of 1.08. The stock has a 50-day simple moving average of $153.75 and a 200 day simple moving average of $190.65.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly 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. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.32 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The firm's revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, equities research analysts anticipate that Snowflake will post -2.16 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $165.01, for a total transaction of $1,650,100.00. Following the transaction, the executive vice president owned 510,477 shares in the company, valued at approximately $84,233,809.77. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $592,252.80. Following the completion of the sale, the senior vice president owned 273,323 shares of the company's stock, valued at $41,763,754.40. The trade was a 1.40% 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. 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.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently bought and sold shares of the company. Allen Capital Group LLC grew its holdings in Snowflake by 3.3% during the 1st quarter. Allen Capital Group LLC now owns 22,996 shares of the company's stock worth $3,468,000 after acquiring an additional 742 shares during the period. Glenmede Trust Co. NA grew its position in shares of Snowflake by 10.5% during the 1st quarter. Glenmede Trust Co. NA now owns 1,928 shares of the company's stock worth $291,000 after buying an additional 183 shares during the period. Verus Capital Partners LLC boosted its stake in Snowflake by 65.5% during the first quarter. Verus Capital Partners LLC now owns 2,031 shares of the company's stock worth $306,000 after acquiring an additional 804 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new position in shares of Snowflake during the first quarter valued at about $739,000. Finally, Groupe la Francaise boosted its position in shares of Snowflake by 252,424.0% during the 1st quarter. Groupe la Francaise now owns 63,131 shares of the company's stock worth $9,491,000 after purchasing an additional 63,106 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake News Summary

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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