Truist Financial Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Key Points

• Truist Financial raised Snowflake’s price target from $275 to $300 and kept a buy rating, implying about 26.8% upside from the current price.
• Other analysts have also turned more bullish, with firms like Piper Sandler, Wells Fargo, Goldman Sachs, and Cantor Fitzgerald lifting targets; Snowflake now has a Moderate Buy consensus and an average target of $290.87.
• Snowflake recently beat earnings expectations, reporting $0.39 EPS on $1.39 billion in revenue, but the stock traded lower on Friday and insiders have sold a significant amount of shares in recent months.

Snowflake (NYSE:SNOW - Get Free Report) had its target price boosted by equities researchers at Truist Financial from $275.00 to $300.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective indicates a potential upside of 26.82% from the company's current price.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler lifted their target price on Snowflake from $295.00 to $320.00 and gave the stock an "overweight" rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Snowflake from $210.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Sanford C. Bernstein lifted their target price on Snowflake from $195.00 to $250.00 and gave the stock a "market perform" rating in a report on Thursday, May 28th. The Goldman Sachs Group lifted their target price on Snowflake from $216.00 to $278.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Finally, Cantor Fitzgerald lifted their price target on Snowflake from $225.00 to $282.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average price target of $290.87.

Snowflake Price Performance

Shares of SNOW stock traded down $7.63 during trading hours on Friday, hitting $236.56. The stock had a trading volume of 2,506,716 shares, compared to its average volume of 7,494,165. Snowflake has a one year low of $118.30 and a one year high of $284.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.30. The stock's 50-day moving average price is $163.69 and its two-hundred day moving average price is $190.21. The stock has a market capitalization of $81.78 billion, a price-to-earnings ratio of -67.27 and a beta of 1.35.

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, 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 firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The business's revenue was up 33.5% compared to the same quarter last year. Equities analysts forecast that Snowflake will post -2.15 EPS for the current year.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $7,460,594.98. Following the completion of the sale, the director owned 29,396 shares in the company, valued at approximately $4,356,781.16. The trade was a 63.13% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the director owned 38,046 shares of the company's stock, valued at $9,603,951.78. The trade was a 91.99% 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 1,538,672 shares of company stock worth $346,816,863 over the last 90 days. Company insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Snowflake during the 4th quarter valued at $974,091,000. Jennison Associates LLC lifted its holdings in shares of Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares during the last quarter. Coatue Management LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at $441,277,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Snowflake during the 4th quarter valued at $345,619,000. Finally, American Century Companies Inc. lifted its holdings in shares of Snowflake by 233.3% during the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company's stock valued at $474,766,000 after purchasing an additional 1,473,354 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake’s Summit 26 announcements reinforced its AI growth narrative, with new/updated products such as Horizon, CoWork, CoCo, and Datastream, plus deeper integrations and partnerships that support enterprise adoption of the Snowflake AI Data Cloud. Snowflake Summit 26 Puts Governed Enterprise AI At Center Stage
• Positive Sentiment: Analyst sentiment has improved after strong quarterly results, with firms including UBS and Piper Sandler raising price targets, suggesting Wall Street sees more upside if Snowflake can keep monetizing AI. UBS price target raise on Snowflake
• Positive Sentiment: Recent coverage highlighted that Snowflake’s AI products and customer growth are accelerating, which is helping shift the narrative from “when does growth return?” to a more constructive long-term growth story. Snowflake Just Changed the Conversation About What It Actually Is
• Positive Sentiment: Snowflake’s latest earnings beat still matters: the company posted stronger-than-expected EPS and revenue, and investors are continuing to re-rate the stock on those results. What’s next for Snowflake after its massive Q1 earnings beat?
• Neutral Sentiment: Several ecosystem announcements, including partner awards and third-party integrations, validate Snowflake’s platform but are more incremental than immediate stock catalysts. TransUnion Expands TruIQ Data Enrichment on Snowflake AI Data Cloud
• Neutral Sentiment: Coverage discussing Snowflake’s expansion in India and comparisons versus other software names adds visibility, but it is not a direct near-term earnings driver. From data migration to AI agents: Why Snowflake is betting big on India
• Negative Sentiment: Insider selling by Director Frank Slootman and EVP Christian Kleinerman may be pressuring sentiment, even though the trades were made under pre-arranged Rule 10b5-1 plans. Snowflake insider buying and selling alert
• Negative Sentiment: SNOW also got caught in a broader pullback in software stocks, with profit-taking across the group contributing to the move lower. ServiceNow and Snowflake Shares Are Falling, What You Need To Know
• Negative Sentiment: Despite the growth story, investors still worry about premium valuation, margin pressure, and competition, which could limit upside if execution slips. Should You Buy, Sell, or Hold SNOW Stock After a 16% Rise in One 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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