Snowflake (NYSE:SNOW) Trading Up 2.2% – Still a Buy?

Snowflake Inc. (NYSE:SNOW)’s share price was up 2.2% during mid-day trading on Thursday . The company traded as high as $344.66 and last traded at $338.2510. Approximately 4,286,256 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 6,737,804 shares. The stock had previously closed at $331.02.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Wall Street’s average price target implies approximately 28.7% upside for Snowflake. Analysts are also revising earnings estimates favorably, which may support continued investor interest. Wall Street Analysts Think Snowflake Could Surge 28.74%
• Positive Sentiment: Analysts continue to point to accelerating AI adoption, customer expansion and Snowflake’s “AI flywheel” as drivers of growth. Scotiabank reportedly maintained an outperform rating and a $440 target, while the broader analyst consensus is a “Moderate Buy” with an average target of $414.24.
• Positive Sentiment: Recent quarterly results provide fundamental support: revenue reached about $1.55 billion, up 35.1% year over year, while adjusted EPS of $0.62 exceeded the $0.45 consensus estimate. Investors are also encouraged by higher guidance, improved margin expectations and Snowflake’s completed $3.7 billion share-repurchase program.
• Positive Sentiment: Snowflake Cortex AI is gaining commercial traction. QAD | Redzone’s ChampionAI uses the platform to address manufacturing productivity and labor challenges, offering another example of enterprise AI adoption. QAD Redzone’s ChampionAI Powered by Snowflake Cortex AI
• Neutral Sentiment: Several executives and directors sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. The transactions reduce insider holdings but do not necessarily signal weakening confidence in Snowflake’s outlook.
• Negative Sentiment: Valuation remains the principal concern. SNOW has already risen roughly 51% in 2026 and trades at a premium to slower-growing peers despite continuing to report net losses. Any slowdown in AI adoption, usage growth or progress toward profitability could trigger profit-taking.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SNOW shares. Mizuho set a $425.00 price objective on shares of Snowflake in a research note on Thursday, September 3rd. Wedbush upped their target price on shares of Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Truist Financial set a $425.00 price target on shares of Snowflake and gave the company a “buy” rating in a report on Thursday, September 3rd. The Goldman Sachs Group raised their price target on shares of Snowflake from $300.00 to $436.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, Morgan Stanley boosted their price objective on shares of Snowflake from $300.00 to $470.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Thirty-four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $414.24.

Snowflake Price Performance

The firm has a fifty day moving average of $309.17 and a 200 day moving average of $229.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $119.33 billion, a P/E ratio of -106.37 and a beta of 1.33.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities research analysts anticipate that Snowflake Inc. will post -1.57 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Mark Garrett sold 50,000 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $350.00, for a total transaction of $17,500,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 25,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $325.00, for a total value of $8,125,000.00. Following the transaction, the executive vice president directly owned 340,379 shares in the company, valued at $110,623,175. The trade was a 6.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,045,087 shares of company stock worth $314,431,792 in the last three months. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

A number of hedge funds have recently bought and sold shares of the company. Nuveen LLC boosted its position in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after purchasing an additional 116,521 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Snowflake by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after purchasing an additional 249,668 shares during the period. Norges Bank bought a new position in shares of Snowflake in the 4th quarter worth approximately $974,091,000. Janus Henderson Group PLC boosted its holdings in shares of Snowflake by 22.2% in the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after buying an additional 544,960 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Snowflake by 44.7% in the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after buying an additional 803,110 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.