Snowflake (NYSE:SNOW) Trading Up 2.3% – Here’s Why

Snowflake Inc. (NYSE:SNOW)’s stock price traded up 2.3% during mid-day trading on Wednesday . The stock traded as high as $183.35 and last traded at $179.3030. 3,479,201 shares were traded during trading, a decline of 46% from the average session volume of 6,449,914 shares. The stock had previously closed at $175.32.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake-backed AI research and customer adoption data present a constructive growth narrative—reports with Omdia/Informa and separate healthcare research cite positive ROI from generative AI projects, net job creation, and strong enterprise demand for interoperability, supporting revenue and long‑term AI tailwinds. Read More.
• Positive Sentiment: Analyst and feature coverage is increasingly bullish in places, highlighting 30% revenue growth, improving product‑led momentum (Cortex, Snowflake Intelligence) and upgraded buy cases — these narratives can drive renewed investor interest and multiple expansion. Read More.
• Neutral Sentiment: Fundamentals: Snowflake beat Q4 revenue and EPS estimates in late February and continues strong y/y revenue growth (~30%), but remains unprofitable on GAAP margins—this sets up a higher‑volatility, growth‑at‑scale investment profile. Read More.
• Negative Sentiment: Multiple securities class‑action lawsuits and law‑firm investor notices were filed/announced this week (class period cited June 27, 2023–Feb 28, 2024). Litigation raises the prospect of legal costs, management distraction and headline risk that can pressure the stock and valuation multiple. Read More.
• Negative Sentiment: Insider selling: Director Michael Speiser disclosed a large sale (~50,338 shares at ~$175), significantly reducing his stake. Substantial insider sales can be perceived negatively even if for personal liquidity, and may weigh on sentiment near term. Read More.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNOW. Raymond James Financial restated an “outperform” rating on shares of Snowflake in a research report on Monday, February 2nd. Evercore raised their price target on Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Oppenheimer reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, February 26th. Sanford C. Bernstein dropped their price objective on Snowflake from $237.00 to $195.00 and set a “market perform” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $248.58.

Snowflake Trading Up 2.3%

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day moving average of $192.07 and a 200 day moving average of $221.90. The firm has a market capitalization of $61.36 billion, a price-to-earnings ratio of -45.39 and a beta of 1.16.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 48.50% and a negative net margin of 28.43%.The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was up 30.1% on a year-over-year basis. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $165.01, for a total value of $1,650,100.00. Following the sale, the executive vice president directly owned 510,477 shares in the company, valued at $84,233,809.77. This trade represents a 1.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $176.91, for a total transaction of $17,691,000.00. Following the transaction, the director owned 50,329 shares of the company’s stock, valued at approximately $8,903,703.39. This represents a 66.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 711,140 shares of company stock valued at $144,037,791 in the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Snowflake in the fourth quarter worth about $974,091,000. Winslow Capital Management LLC bought a new position in shares of Snowflake during the 2nd quarter valued at about $725,667,000. 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 in the last quarter. Coatue Management LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at approximately $441,277,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in shares of Snowflake in the 4th quarter valued at approximately $345,619,000. Institutional investors own 65.10% of the company’s stock.

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.