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

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

Key Snowflake News

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 Upgrades and Downgrades

Several brokerages have recently issued reports on SNOW. Truist Financial lowered their price objective on shares of Snowflake from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Raymond James Financial reaffirmed an “outperform” rating on shares of Snowflake in a research report on Monday, February 2nd. Piper Sandler lowered their target price on Snowflake from $285.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Wedbush reissued an “outperform” rating and issued a $270.00 price target on shares of Snowflake in a research note on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price 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’s 50-day moving average is $192.07 and its two-hundred day moving average is $221.90. The firm has a market cap of $61.36 billion, a P/E ratio of -45.39 and a beta of 1.16.

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

Insider Buying and Selling

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the sale, the senior vice president directly owned 218,020 shares of the company’s stock, valued at approximately $48,060,328.80. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $221.16, for a total transaction of $11,132,752.08. Following the completion of the transaction, the director directly owned 31,916 shares of the company’s stock, valued at approximately $7,058,542.56. This trade represents a 61.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 711,140 shares of company stock valued at $144,037,791 in the last ninety days. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of the company. Grey Fox Wealth Advisors LLC acquired a new position in Snowflake during the third quarter worth approximately $25,000. Tripletail Wealth Management LLC bought a new position in shares of Snowflake during the 3rd quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Snowflake during the 4th quarter worth approximately $28,000. Greenline Wealth Management LLC acquired a new position in shares of Snowflake during the 4th quarter worth approximately $29,000. Finally, SJS Investment Consulting Inc. raised its stake in Snowflake by 4,333.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock valued at $30,000 after acquiring an additional 130 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.