Snowflake (NYSE:SNOW) Shares Up 1.6% – Here’s What Happened

Snowflake Inc. (NYSE:SNOW)’s share price was up 1.6% during mid-day trading on Wednesday . The stock traded as high as $155.44 and last traded at $153.2830. Approximately 4,956,959 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 5,997,521 shares. The stock had previously closed at $150.82.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Benchmark initiated coverage with a Buy and $190 price target, calling Snowflake a top AI‑infrastructure pick and highlighting a large AI‑data total addressable market — a bullish catalyst for medium/long‑term growth expectations. Read More.
• Positive Sentiment: Multiple outlets note Snowflake’s AI tools are driving workload and platform usage growth; if the company can scale deployments this supports revenue acceleration and monetization of AI workloads. Read More.
• Positive Sentiment: Snowflake promoted longtime sales leader Jonathan Beaulier to Chief Revenue Officer — an insider appointment aimed at reaccelerating sales execution and better monetizing marketplace/vertical opportunities. Read More.
• Neutral Sentiment: Some firms (Mizuho, Seeking Alpha, Zacks) say the CRO change and the stock’s pullback make SNOW more interesting, but they flag execution risk; analyst views remain mixed, tempering near‑term conviction. Read More.
• Negative Sentiment: Several law firms are circulating investor alerts about an active securities class action and upcoming lead‑plaintiff deadlines — a legal overhang that can create uncertainty and selling pressure. Read More.
• Negative Sentiment: Insider selling: SVP Vivek Raghunathan sold ~3,876 shares under a pre‑arranged Rule 10b5‑1 plan (small stake reduction). Routine disclosure, but some traders interpret insider sales as a negative near‑term signal. Read More.
• Negative Sentiment: Options commentators and some traders are positioning bearish option strategies on SNOW, reflecting short‑term skepticism amid volatility and giving downside pressure in the near term. Read More.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SNOW shares. JPMorgan Chase & Co. lowered their target price on Snowflake from $268.00 to $245.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. TD Cowen reduced their price target on shares of Snowflake from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. KeyCorp decreased their price target on shares of Snowflake from $285.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. UBS Group lowered their price objective on shares of Snowflake from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $249.62.

Snowflake Price Performance

The company has a market capitalization of $52.51 billion, a PE ratio of -38.45 and a beta of 1.23. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50 day moving average price of $174.90 and a two-hundred day moving average price of $215.20.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. Equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 2,141 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $173.97, for a total value of $372,469.77. Following the completion of the sale, the chief accounting officer directly owned 44,553 shares of the company’s stock, valued at $7,750,885.41. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Vivek Raghunathan sold 3,876 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total transaction of $592,252.80. Following the transaction, the senior vice president owned 273,323 shares in the company, valued at approximately $41,763,754.40. This trade represents a 1.40% 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. Over the last three months, insiders sold 543,572 shares of company stock valued at $101,311,456. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Snowflake during the 4th quarter valued at about $974,091,000. Winslow Capital Management LLC acquired a new stake in Snowflake in the 2nd quarter worth approximately $725,667,000. Jennison Associates LLC lifted its holdings in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares during the last quarter. Coatue Management LLC bought a new stake in Snowflake during the third quarter worth approximately $441,277,000. Finally, Jericho Capital Asset Management L.P. bought a new stake in Snowflake during the fourth quarter worth approximately $345,619,000. 65.10% of the stock is currently owned by institutional investors.

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.