Snowflake (NYSE:SNOW) Price Target Raised to $450.00

Snowflake (NYSE:SNOW) had its price target hoisted by Canaccord Genuity Group from $325.00 to $450.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a buy rating on the stock.

SNOW has been the subject of several other research reports. Jefferies Financial Group set a $430.00 target price on shares of Snowflake and gave the company a “buy” rating in a report on Thursday. Scotiabank boosted their price target on shares of Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a report on Monday, June 8th. Weiss Ratings downgraded shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. The Goldman Sachs Group increased their price objective on shares of Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Benchmark increased their price objective on shares of Snowflake from $290.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Thirty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $414.24.

Snowflake Price Performance

Shares of NYSE SNOW opened at $338.47 on Thursday. The stock has a market cap of $117.31 billion, a price-to-earnings ratio of -106.44 and a beta of 1.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake has a fifty-two week low of $118.30 and a fifty-two week high of $384.56. The firm’s 50-day simple moving average is $297.66 and its 200 day simple moving average is $220.33.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative return on equity of 47.20% and a negative net margin of 20.07%.The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, research analysts anticipate that Snowflake will post -1.8 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 48,990 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $320.78, for a total transaction of $15,715,012.20. Following the completion of the sale, the director owned 28,535 shares in the company, valued at approximately $9,153,457.30. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $380.00, for a total transaction of $3,800,000.00. Following the completion of the sale, the executive vice president directly owned 18,568 shares in the company, valued at approximately $7,055,840. This represents a 35.00% 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 have sold 1,131,160 shares of company stock worth $317,966,701 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. California State Teachers Retirement System raised its holdings in shares of Snowflake by 25,944.6% in the 2nd quarter. California State Teachers Retirement System now owns 127,340,602 shares of the company’s stock worth $32,408,183,000 after purchasing an additional 126,851,670 shares during the period. Nuveen LLC lifted its stake in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after purchasing an additional 116,521 shares during the last quarter. Geode Capital Management LLC grew its holdings in Snowflake by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after purchasing an additional 249,668 shares during the period. Norges Bank bought a new position in Snowflake during the fourth quarter valued at $974,091,000. Finally, Janus Henderson Group PLC increased its position in Snowflake by 22.2% in the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after buying an additional 544,960 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong Q2 results: Snowflake reported adjusted earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue increased 35.1% year over year to $1.55 billion, ahead of expectations. Product revenue rose 37% to approximately $1.49 billion. Snowflake shares surge as AI demand powers growth and lifts outlook
• Positive Sentiment: AI is accelerating demand: Management said AI-related offerings contributed about half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the view that enterprise AI workloads can increase consumption of its data platform. Analysts discuss Snowflake’s AI-driven acceleration
• Positive Sentiment: Guidance and analyst targets moved higher: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. UBS, Citi, JPMorgan, TD Cowen and other firms subsequently raised targets, with several reaching $450 to $500 and maintaining bullish ratings. Snowflake’s AI momentum prompts higher price targets
• Neutral Sentiment: Profit-taking after a major rally: The stock had surged more than 20% after the earnings release and reached levels near its 52-week high. The current retreat likely reflects investors locking in gains rather than a deterioration in the latest operating results.
• Negative Sentiment: Margin and valuation risks remain: Management lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads increase costs. Snowflake also remains unprofitable under generally accepted accounting principles, while its high valuation leaves the stock vulnerable to further profit-taking if growth expectations moderate. Snowflake’s AI growth and margin outlook
• Negative Sentiment: Executive stock sale: EVP Christian Kleinerman sold 10,000 shares for approximately $3.8 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal a change in business outlook, the transaction may add to short-term investor caution after the rally.

Snowflake Company Profile

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.