Snowflake (NYSE:SNOW) Trading Down 2.4% – Here’s What Happened

Snowflake Inc. (NYSE:SNOW) fell 2.4% on Monday . The stock traded as low as $173.71 and last traded at $174.3540. 3,795,586 shares changed hands during trading, a decline of 40% from the average session volume of 6,295,188 shares. The stock had previously closed at $178.66.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced Project SnowWork, an autonomous enterprise AI platform that aims to execute multi-step business workflows (agentic AI), which could expand product differentiation and drive higher product usage and monetization. Read More.
• Positive Sentiment: Quarterly execution remains solid: Snowflake reported ~30% year‑over‑year product revenue growth, net new customer gains, and a surge in AI features — evidence the company’s AI strategy is already contributing to revenue growth. Read More.
• Positive Sentiment: Bank of America reiterated a Buy rating and $275 price target after meetings with management, signaling continued analyst conviction in Snowflake’s long‑term AI/data cloud opportunity. Read More.
• Neutral Sentiment: Some sell‑side and market commentary remains cautious: Macquarie maintained a neutral view, reflecting differing analyst perspectives on upside from current levels. Read More.
• Neutral Sentiment: Market participants are discussing limited near‑term upside and option strategies, indicating some traders view the rally as capped while longer‑term fundamentals play out. Read More.
• Neutral Sentiment: Coverage pieces on leadership and strategy (first full year under CEO Sridhar Ramaswamy) highlight progress but note ongoing competitive and valuation headwinds. Read More.
• Negative Sentiment: Multiple law firms have issued class‑action notices alleging securities violations for purchases between June 27, 2023 and Feb 28, 2024; the proliferation of filings and reminder notices (lead plaintiff deadline April 27, 2026) creates legal overhang and potential liability/settlement risk that can pressure the stock. Read More.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SNOW shares. Wedbush reissued an “outperform” rating and issued a $270.00 price objective on shares of Snowflake in a research note on Thursday, December 4th. KeyCorp reduced their target price on shares of Snowflake from $285.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Scotiabank cut their price target on shares of Snowflake from $290.00 to $205.00 and set a “sector outperform” rating for the company in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Snowflake from $268.00 to $245.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $248.58.

Snowflake Stock Down 0.8%

The firm has a 50 day moving average of $187.47 and a two-hundred day moving average of $220.60. The stock has a market capitalization of $59.27 billion, a PE ratio of -43.85 and a beta of 1.17. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned $0.30 earnings per share. Snowflake’s quarterly revenue was up 30.1% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 550 shares of Snowflake stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $182.44, for a total transaction of $100,342.00. Following the completion of the transaction, the executive vice president owned 501,835 shares in the company, valued at approximately $91,554,777.40. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 2,042 shares of Snowflake stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $182.44, for a total transaction of $372,542.48. Following the transaction, the director owned 47,558 shares of the company’s stock, valued at approximately $8,676,481.52. The trade was a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 703,029 shares of company stock worth $142,236,823 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Snowflake by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after buying an additional 1,448,094 shares in the last quarter. Jennison Associates LLC grew its holdings in 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 buying an additional 2,519,413 shares during the last quarter. State Street Corp increased its position in Snowflake by 1.4% during the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after buying an additional 94,293 shares in the last quarter. Nuveen LLC increased its position in Snowflake by 2.3% during the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after buying an additional 116,521 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Snowflake by 15.2% in the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after acquiring an additional 652,485 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.