Snowflake (NYSE:SNOW) Price Target Raised to $350.00

Snowflake (NYSE:SNOW) had its target price upped by Robert W. Baird from $280.00 to $350.00 in a report issued on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Citigroup restated a “market outperform” rating on shares of Snowflake in a report on Tuesday, August 18th. Jefferies Financial Group upped their price objective on Snowflake from $310.00 to $385.00 and gave the company a “buy” rating in a report on Sunday, August 16th. BTIG Research increased their price objective on Snowflake from $325.00 to $340.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Citizens Jmp lifted their target price on Snowflake from $325.00 to $408.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 18th. Thirty-four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $328.14.

Snowflake Stock Up 4.4%

Shares of SNOW opened at $329.11 on Tuesday. The stock has a 50 day moving average price of $285.85 and a 200 day moving average price of $214.22. Snowflake has a one year low of $118.30 and a one year high of $341.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $114.07 billion, a price-to-earnings ratio of -93.50 and a beta of 1.33.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. Snowflake’s quarterly revenue was up 33.5% on a year-over-year basis. Equities research analysts forecast that Snowflake will post -1.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 48,990 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $320.78, for a total value of $15,715,012.20. Following the completion of the transaction, the director owned 28,535 shares of the company’s stock, valued at $9,153,457.30. This trade represents a 63.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $325.00, for a total transaction of $8,125,000.00. Following the completion of the transaction, the executive vice president owned 340,379 shares of the company’s stock, valued at approximately $110,623,175. This trade represents a 6.84% 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. Insiders have sold a total of 1,329,825 shares of company stock worth $367,408,410 in the last ninety days. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in shares of Snowflake by 25,944.6% in the 2nd quarter. California State Teachers Retirement System now owns 127,340,602 shares of the company’s stock valued at $32,408,183,000 after buying an additional 126,851,670 shares during the period. Jennison Associates LLC increased its stake in shares of Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after buying an additional 2,519,413 shares during the period. Nuveen LLC raised its holdings in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after acquiring an additional 116,521 shares in the last quarter. Geode Capital Management LLC raised its holdings in Snowflake by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after acquiring an additional 249,668 shares in the last quarter. Finally, Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at approximately $974,091,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Salesforce’s better-than-expected results are lifting sentiment across enterprise software, providing a favorable read-through for Snowflake’s cloud-data platform and enterprise spending. Snowflake stock rises as Salesforce’s beat lifts enterprise software
• Positive Sentiment: Snowflake’s product revenue reportedly increased 34% to $1.33 billion, driven by customer growth and AI adoption. The resulting increase in the fiscal 2027 revenue outlook reinforces the company’s growth narrative. SNOW Benefits From Product Revenue Surge: Can It Beat DELL & ORCL?
• Positive Sentiment: Robert W. Baird raised its Snowflake price target to $350, adding to the bullish analyst-support backdrop. Robert W. Baird Raises Snowflake Price Target
• Positive Sentiment: Reuters is joining the Snowflake Marketplace to provide AI-ready trusted news content, highlighting the platform’s expanding data ecosystem and potential usefulness for enterprise AI applications. Reuters joins Snowflake Marketplace
• Positive Sentiment: Mandai Wildlife Group is using Snowflake to build an AI search tool for animal-care records, offering another example of customers applying the platform to specialized data and AI workloads. Mandai Wildlife Group builds AI search tool
• Neutral Sentiment: Options markets imply roughly a 12% earnings-related move, signaling unusually high volatility expectations. Snowflake Traders Are Bracing for Another Huge Earnings Swing
• Negative Sentiment: Analysts note that Snowflake’s strong long-term performance may already reflect substantial future growth, making valuation and the size of any remaining upside important concerns after its recent rally. How Much Track Is Left for SNOW Stock?

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.