Snowflake (NYSE:SNOW) Trading Up 1.3% – Time to Buy?

Shares of Snowflake Inc. (NYSE:SNOW) traded up 1.3% during mid-day trading on Thursday . The company traded as high as $176.85 and last traded at $175.4360. 3,800,729 shares traded hands during trading, a decline of 38% from the average session volume of 6,172,910 shares. The stock had previously closed at $173.25.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake unveiled Project SnowWork, a research-preview autonomous enterprise AI platform meant to move users from insights to execution — a product expansion that could boost usage, upsells and differentiation vs. peers if adoption scales. Read More.
• Positive Sentiment: Snowflake Ventures made a strategic investment in Bedrock Data to deepen integrations around data classification and governance, strengthening Snowflake’s AI Data Cloud stack and go-to-market push for enterprise AI governance. Read More.
• Positive Sentiment: Recent results showed revenue growth of ~30% YoY and an EPS beat for the latest quarter, reinforcing the company’s top-line momentum that supports valuation narratives for growth investors. Read More.
• Positive Sentiment: Coverage comparing Snowflake favorably to peers (including Alphabet) highlights rapid AI adoption and customer growth, which can help re-rate investor expectations for SNOW in the cloud analytics market. Read More.
• Neutral Sentiment: NYSE and executive media appearances are amplifying the SnowWork narrative—visibility and PR that support awareness but do not guarantee near-term revenue. Read More.
• Negative Sentiment: Multiple law firms have issued class-action notices and investor alerts tied to an existing securities suit (purchase window June 27, 2023–Feb 28, 2024), creating a legal overhang and potential headline risk. Read More.
• Negative Sentiment: Insider selling: EVP Christian Kleinerman and Director Frank Slootman disclosed recent share sales (small percentages of holdings). Such disclosures can add short-term selling pressure and feed negative sentiment even if they are routine. Read More. Read More.
• Negative Sentiment: Some sell‑side shops trimmed price targets recently (though many still rate SNOW a buy), a reminder that near-term upside is debated and analyst revisions can pressure the stock. Read More.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNOW shares. TD Cowen cut their price target on shares of Snowflake from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Citigroup dropped their target price on shares of Snowflake from $300.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, January 21st. BTIG Research decreased their target price on shares of Snowflake from $312.00 to $235.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Snowflake from $268.00 to $245.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.58.

Snowflake Trading Up 1.3%

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The firm has a market cap of $60.03 billion, a P/E ratio of -44.41 and a beta of 1.16. The firm’s 50-day simple moving average is $186.27 and its 200 day simple moving average is $220.27.

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

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 2,986 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $175.34, for a total value of $523,565.24. Following the sale, the executive vice president directly owned 496,052 shares in the company, valued at $86,977,757.68. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $175.19, for a total value of $70,601.57. Following the transaction, the director directly owned 23,315 shares in the company, valued at $4,084,554.85. This represents a 1.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 513,303 shares of company stock valued at $99,644,391 over the last ninety days. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at approximately $25,000. Tripletail Wealth Management LLC purchased a new position in Snowflake in the 3rd quarter valued at approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in Snowflake during the 4th quarter valued at $28,000. Greenline Wealth Management LLC bought a new stake in Snowflake during the 4th quarter valued at $29,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of Snowflake by 4,333.3% during the third quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after acquiring an additional 130 shares in the last quarter. 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.