Snowflake Inc. (NYSE:SNOW – Get Free Report)’s share price traded up 2.3% during mid-day trading on Wednesday . The company traded as high as $338.00 and last traded at $330.2580. 3,751,361 shares were traded during trading, a decline of 44% from the average session volume of 6,754,933 shares. The stock had previously closed at $322.98.
More Snowflake News
Here are the key news stories impacting Snowflake this week:
- Positive Sentiment: Snowflake’s Cortex AI platform is powering QAD | Redzone’s new ChampionAI manufacturing application, highlighting real-world use of Snowflake technology to address productivity, labor and operational challenges. QAD | Redzone’s ChampionAI, Powered by Snowflake Cortex AI, Tackles Manufacturing’s Productivity, Labor and Pace Challenges
- Positive Sentiment: Snowflake’s recently reported fiscal 2027 second-quarter performance included approximately $1.55 billion in revenue, a narrower net loss and raised full-year product-revenue and operating-margin guidance. Management cited growing adoption of AI products such as CoCo and CoWork. The company also completed a roughly $3.7 billion buyback, retiring about 25.4 million shares. How Investors May Respond To Snowflake AI-fueled Guidance Hike and $3.7 Billion Buyback
- Positive Sentiment: Scotiabank raised its fiscal 2027 EPS estimate to a loss of $1.32 per share from a projected loss of $1.81 and maintained a “Sector Outperform” rating with a $440 price target, above the current consensus estimate and recent trading levels. Scotiabank Raises Snowflake EPS Estimate
- Positive Sentiment: Snowflake introduced dynamic model routing designed to direct workloads to appropriate AI models and reduce unnecessary model spending, potentially improving the cost efficiency and appeal of enterprise AI adoption. Snowflake’s Dynamic Model Routing Aims to Make Enterprise AI More Cost-Efficient
- Positive Sentiment: Snowflake’s support for UAE entrepreneurs developing AI startups expands its ecosystem and could create additional future demand for its data and AI platform. Snowflake Backs UAE Entrepreneurs Building the Next Generation of AI Startups
- Neutral Sentiment: Analyst commentary describes Snowflake as a stronger-growth enterprise AI opportunity than Adobe, supported by customer expansion and rising AI adoption. However, the comparison acknowledges that SNOW trades at a substantially richer valuation. Snowflake vs. Adobe: Which Enterprise AI Stock Is a Better Buy?
- Neutral Sentiment: Recent conference commentary and momentum-focused research reinforce the bullish narrative, but they provide limited new financial information beyond Snowflake’s existing growth and AI case. Snowflake Presents at Piper Sandler Growth Frontiers Conference
- Negative Sentiment: Despite improving results, Snowflake remains unprofitable, and its elevated valuation increases sensitivity to any slowdown in AI adoption, customer growth or guidance. The stock is also still below its 52-week high, leaving room for volatility if expectations are not met.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Sanford C. Bernstein raised their price target on shares of Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, May 28th. Evercore reiterated an “outperform” rating and set a $430.00 price objective on shares of Snowflake in a research report on Thursday, September 3rd. Robert W. Baird set a $450.00 price objective on Snowflake in a report on Thursday, September 3rd. Raymond James Financial raised their target price on Snowflake from $275.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Finally, Canaccord Genuity Group lifted their target price on Snowflake from $325.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $414.24.
Snowflake Stock Up 2.3%
The firm has a market cap of $116.52 billion, a price-to-earnings ratio of -103.85 and a beta of 1.33. The stock’s 50 day moving average is $307.79 and its 200 day moving average is $228.50. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06.
Snowflake (NYSE:SNOW – Get Free Report) last released its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 46.32% and a negative net margin of 20.07%.The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. Analysts forecast that Snowflake Inc. will post -1.57 EPS for the current year.
Insider Transactions at Snowflake
In related news, Director Michael Speiser sold 403 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $353.87, for a total transaction of $142,609.61. Following the completion of the transaction, the director owned 22,170 shares of the company’s stock, valued at $7,845,297.90. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 50,000 shares of Snowflake stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $350.00, for a total value of $17,500,000.00. Following the transaction, the director directly owned 10,074 shares in the company, valued at approximately $3,525,900. The trade was a 83.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,216,974 shares of company stock worth $350,103,983. Corporate insiders own 4.80% of the company’s stock.
Institutional Trading of Snowflake
A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Anchor Investment Management LLC acquired a new stake in Snowflake during the second quarter valued at approximately $76,000. Sequoia Financial Advisors LLC grew its position in Snowflake by 14.2% in the second quarter. Sequoia Financial Advisors LLC now owns 39,598 shares of the company’s stock worth $10,078,000 after buying an additional 4,927 shares during the last quarter. MCF Advisors LLC grew its position in Snowflake by 1,557.9% in the second quarter. MCF Advisors LLC now owns 315 shares of the company’s stock worth $80,000 after buying an additional 296 shares during the last quarter. National Pension Service grew its position in Snowflake by 3.3% in the second quarter. National Pension Service now owns 690,349 shares of the company’s stock worth $175,694,000 after buying an additional 21,915 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in shares of Snowflake by 434.3% in the second quarter. Engineers Gate Manager LP now owns 156,869 shares of the company’s stock valued at $39,923,000 after buying an additional 127,511 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.
About Snowflake
Snowflake Inc (NYSE: SNOW) is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.
Snowflake’s Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake’s marketplace and partner ecosystem.
Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.
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