TD Cowen Reiterates "Buy" Rating for Snowflake (NYSE:SNOW)

Key Points

• TD Cowen reaffirmed its Buy rating on Snowflake and set a $300 price target, implying about 20% upside from the prior close.
• Snowflake continues to draw bullish analyst support, with multiple firms recently raising targets and reiterating buy/outperform ratings. MarketBeat says the stock now has a Moderate Buy consensus and an average target price of $288.10.
• The stock fell 4.5% to $249.33 even after reporting better-than-expected quarterly results, including EPS of $0.39 versus $0.32 expected and revenue of $1.39 billion, up 33.5% year over year.

Snowflake (NYSE:SNOW - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at TD Cowen in a research note issued on Wednesday,Benzinga reports. They presently have a $300.00 target price on the stock. TD Cowen's price objective points to a potential upside of 20.32% from the stock's previous close.

SNOW has been the subject of several other reports. Deutsche Bank Aktiengesellschaft increased their target price on Snowflake from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Bank of America lifted their price target on Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Royal Bank Of Canada upped their price objective on Snowflake from $220.00 to $284.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Raymond James Financial reaffirmed an "outperform" rating and set a $275.00 target price on shares of Snowflake in a report on Thursday, May 28th. Finally, Rosenblatt Securities lifted their target price on Snowflake from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $288.10.

Snowflake Stock Down 4.5%

Shares of Snowflake stock traded down $11.81 during trading hours on Wednesday, hitting $249.33. 2,232,341 shares of the company's stock traded hands, compared to its average volume of 7,425,633. Snowflake has a twelve month low of $118.30 and a twelve month high of $284.99. The company has a market cap of $86.19 billion, a PE ratio of -70.83 and a beta of 1.35. The company has a quick ratio of 1.30, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The stock has a 50 day simple moving average of $158.80 and a 200-day simple moving average of $190.47.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company's revenue was up 33.5% compared to the same quarter last year. Equities research analysts anticipate that Snowflake will post -2.15 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frank Slootman sold 437,076 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the sale, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. The trade was a 91.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the sale, the director directly owned 8,801 shares of the company's stock, valued at approximately $2,200,250. This represents a 91.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,416,489 shares of company stock worth $310,023,119. Corporate insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of Snowflake by 3.1% in the 1st quarter. Parallel Advisors LLC now owns 5,684 shares of the company's stock valued at $857,000 after purchasing an additional 169 shares during the period. Allen Capital Group LLC lifted its stake in Snowflake by 3.3% during the first quarter. Allen Capital Group LLC now owns 22,996 shares of the company's stock valued at $3,468,000 after buying an additional 742 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Snowflake by 10.5% in the first 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 increased its position in shares of Snowflake by 65.5% in 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. Finally, CTC Alternative Strategies Ltd. acquired a new stake in shares of Snowflake during the first quarter valued at approximately $739,000. 65.10% of the stock is owned by institutional investors.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Needham raised its price target on Snowflake to $330 from $300 and kept a buy rating, signaling confidence in further upside after the company’s strong recent momentum.
• Positive Sentiment: BTIG also boosted its price target to $325 from $280 and reiterated a buy rating, adding to the bullish analyst response around SNOW.
• Positive Sentiment: Coverage around Snowflake’s recent earnings and Summit 26 continues to highlight rapid adoption of new AI-native products like Snowflake Intelligence and Cortex Code, which is supporting the growth story. The 5 Most Interesting Analyst Questions From Snowflake’s Q1 Earnings Call
• Positive Sentiment: Snowflake’s ecosystem keeps expanding, with partners such as Greybeam, NIQ, BlueCloud, phData, and others announcing new products, awards, and integrations on Snowflake Marketplace, reinforcing the company’s central role in enterprise AI. Greybeam Launches Cost Observability Tool on Snowflake Marketplace NIQ Named 2026 Retail & Consumer Goods Snowflake Product Partner of the Year
• Neutral Sentiment: Several reports also noted major Snowflake Summit 26 product announcements around governance, interoperability, and AI agents, which are strategically important but still early in their market impact. Snowflake Advances Trusted AI with Snowflake Horizon Catalog Centralizing Governance, Context, and Security Across the Enterprise Snowflake Pioneers New Open Framework for Interoperable Enterprise Data and AI
• Negative Sentiment: Insider sales by directors Frank Slootman and Mark Garrett may slightly weigh on sentiment, even though the transactions were disclosed and one was under a pre-arranged trading plan.

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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