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

Shares of Snowflake Inc. (NYSE:SNOW) shot up 1.3% during trading on Thursday . The company traded as high as $176.85 and last traded at $175.4360. 3,800,729 shares were traded during mid-day 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 Analyst Weigh In

Several brokerages have recently commented on SNOW. BTIG Research cut their price objective on Snowflake from $312.00 to $235.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Zacks Research raised Snowflake from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 target price on shares of Snowflake in a research note on Thursday, December 4th. Morgan Stanley lowered their price target on Snowflake from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Snowflake from $268.00 to $245.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.58.

Snowflake Price Performance

The firm has a market capitalization of $60.03 billion, a PE ratio of -44.41 and a beta of 1.16. 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’s fifty day simple moving average is $186.27 and its 200-day simple moving average is $220.27.

Snowflake (NYSE:SNOW) last issued its 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. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative return on equity of 48.50% and a negative net margin of 28.43%.The company’s revenue was up 30.1% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. On average, research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $197.09, for a total value of $1,970,900.00. Following the completion of the sale, the executive vice president owned 461,351 shares of the company’s stock, valued at approximately $90,927,668.59. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total value of $2,601,412.44. Following the completion of the transaction, the senior vice president owned 218,020 shares in the company, valued at approximately $48,060,328.80. This trade represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 513,303 shares of company stock worth $99,644,391 in the last three months. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

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