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Snowflake
(NYSE:SNOW)
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Rating:68Neutral
Price Target:
$368.00
▲(16.08% Upside)
Action:Reiterated
Date:09/06/26
The score reflects strong technical momentum and a notably positive earnings update (raised FY'27 growth and margin guidance). Financial quality is supported by robust free-cash-flow generation and healthy gross margins, but the overall score is capped by persistent GAAP losses, higher leverage versus prior years, and limited valuation support given a negative P/E and no dividend yield.
Positive Factors
Accelerating revenue and customer expansion
Accelerating product revenue, strong retention, and expanding customer additions indicate broadening platform adoption. These trends can support durable growth as customers deploy more workloads, increase consumption, and expand Snowflake across additional teams and use cases.
Negative Factors
Persistent GAAP losses
Ongoing operating and net losses show that strong revenue growth has not yet translated into GAAP profitability. Continued losses can constrain retained capital, reduce resilience during slower consumption periods, and leave the company dependent on future operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating revenue and customer expansion
Accelerating product revenue, strong retention, and expanding customer additions indicate broadening platform adoption. These trends can support durable growth as customers deploy more workloads, increase consumption, and expand Snowflake across additional teams and use cases.
Read all positive factors
Snowflake Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks revenue down by region to reveal where Snowflake is winning and where growth is lagging. Geographic mix highlights exposure to local economic cycles, currency and regulatory risk, and opportunities for international expansion.
Breaks revenue down by region to reveal where Snowflake is winning and where growth is lagging. Geographic mix highlights exposure to local economic cycles, currency and regulatory risk, and opportunities for international expansion.
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The Fly
The FlySnowflake (SNOW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$116.07B
Dividend YieldN/A
Average Volume (3M)5.08M
Price to Earnings (P/E)―
Beta (1Y)1.43
Revenue Growth32.04%
EPS Growth23.46%
CountryUS
Employees9,250
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-3.18
Shares Outstanding352,800,000
10 Day Avg. Volume6,781,823
30 Day Avg. Volume5,080,372
Financial Highlights & Ratios
PEG Ratio-20.92
Price to Book (P/B)33.80
Price to Sales (P/S)13.88
P/FCF Ratio58.05
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$435.00Price Target Upside37.22% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering35
EPS Forecast (FY)2.21
Revenue Forecast (FY)$6.31B
Snowflake Business Overview & Revenue Model
Company Description
Snowflake Inc. delivers a cloud-centric data platform to customers across both the United States and international markets. The company's core offering, known as the Data Cloud, enables users to unify disparate data sources into a singular, reliab...
How the Company Makes Money
Snowflake primarily generates revenue by selling access to its cloud-based data platform under a consumption-oriented model. The company’s largest revenue stream is product revenue, which is earned as customers use Snowflake’s services (e.g., comp...
Snowflake Earnings Call Summary
Earnings Call Date:May 27, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Dec 02, 2026
Earnings Call Sentiment Positive
The call presents a strong, growth-focused quarter driven by accelerated product revenue (34% YoY), meaningful AI product traction (CoCo and Snowflake Intelligence), improved net revenue retention (126%), margin expansion and raised FY'27 guidance (from 27% to 31% revenue growth). Strategic partnerships (notably a $6B AWS agreement), large-customer expansion, operational productivity gains from AI, a healthy cash position and active buybacks reinforce a positive momentum narrative. Principal risks highlighted include AI-related cost and gross-margin pressure, booking seasonality concentrated in Q4, potential customer throttling of consumption for cost control, and a modest acquisition-related margin headwind (~150 bps). Overall, positive fundamental growth and margin progress outweigh the manageable risks tied to rapid AI scaling and timing of bookings.Positive Updates
Record Product Revenue and Accelerating Growth
Product revenue of $1.334 billion, up 34% year-over-year (accelerating from 30% last quarter and 26% a year ago), delivering the strongest sequential dollar growth in company history.
Negative Updates
AI Product Gross-Margin and Cost Risk
Management acknowledged AI products (e.g., CoCo) have lower gross margins than the core platform. While the company expects to offset this (e.g., via lower bandwidth cost from the AWS deal and other efficiencies), scaling AI consumption poses a margin risk if offsets are insufficient.
Read all updates
Q1-2027 Updates
Positive
Negative
Record Product Revenue and Accelerating Growth
Product revenue of $1.334 billion, up 34% year-over-year (accelerating from 30% last quarter and 26% a year ago), delivering the strongest sequential dollar growth in company history.
Read all positive updates
Company Guidance
Snowflake raised its FY‑27 product revenue guide to $5.84 billion (up to 31% year‑over‑year growth, from a prior ~27% outlook) and expects Q2 product revenue of $1.415–$1.42 billion (≈30% YoY); it reaffirmed a FY non‑GAAP product gross margin of 75%, raised full‑year non‑GAAP operating margin guidance to 13.5% (Q2 at 12.5%), and reiterated a non‑GAAP adjusted free‑cash‑flow margin target of 23%. The company said Observe contributed <1 percentage‑point to Q1 product revenue and is expected to add roughly 1 percentage‑point to full‑year product revenue growth while imposing an ~150 bp margin headwind that is already included in guidance; the outlook is based on observed acceleration (Q1 product revenue was $1.334 billion, +34% YoY) and no change to its forecasting methodology.Snowflake Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
56
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.43B | 4.68B | 3.63B | 2.81B | 2.07B | 1.22B |
| Gross Profit | 3.64B | 3.15B | 2.41B | 1.91B | 1.35B | 760.89M |
| EBITDA | -882.05M | -1.08B | -1.10B | -729.32M | -752.46M | -655.46M |
| Net Income | -1.09B | -1.33B | -1.29B | -836.10M | -796.71M | -679.95M |
Balance Sheet | ||||||
| Total Assets | 8.69B | 9.13B | 9.03B | 8.22B | 7.72B | 6.65B |
| Cash, Cash Equivalents and Short-Term Investments | 2.34B | 4.03B | 4.64B | 3.85B | 4.01B | 3.85B |
| Total Debt | 2.76B | 2.74B | 2.69B | 287.98M | 251.66M | 206.30M |
| Total Liabilities | 6.54B | 7.21B | 6.03B | 3.03B | 2.25B | 1.60B |
| Stockholders Equity | 2.15B | 1.92B | 3.00B | 5.18B | 5.46B | 5.05B |
Cash Flow | ||||||
| Free Cash Flow | 1.20B | 1.12B | 913.49M | 778.90M | 496.50M | 81.19M |
| Operating Cash Flow | 1.25B | 1.22B | 959.76M | 848.12M | 545.64M | 110.18M |
| Investing Cash Flow | -286.45M | 312.24M | 190.65M | 832.26M | -597.88M | -20.80M |
| Financing Cash Flow | -1.18B | -1.39B | -226.52M | -854.10M | -92.62M | 178.20M |
Snowflake Technical Analysis
Positive
317.02
Price Trends
304.95
Positive
251.68
Positive
221.10
Positive
Market Momentum
7.39
Positive
55.14
Neutral
32.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNOW, the sentiment is Positive. The current price of 317.02 is below the 20-day moving average (MA) of 327.78, above the 50-day MA of 304.95, and above the 200-day MA of 221.10, indicating a bullish trend. The MACD of 7.39 indicates Positive momentum. The RSI at 55.14 is Neutral, neither overbought nor oversold. The STOCH value of 32.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SNOW.
Snowflake Risk Analysis
Snowflake disclosed 55 risk factors in its most recent earnings report. Snowflake reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Snowflake Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $203.87B | 22.52 | 20.15% | 0.86% | 11.23% | 58.19% | |
79 Outperform | $8.76B | 23.07 | 35.31% | ― | 16.18% | ― | |
76 Outperform | $14.76B | 100.43 | 5.72% | 4.32% | 17.94% | -69.28% | |
74 Outperform | $100.26B | 14.05 | 62.88% | ― | 12.03% | 11.41% | |
69 Neutral | $79.43B | 444.91 | 4.57% | ― | 31.52% | 37.42% | |
68 Neutral | $116.07B | -103.46 | -53.56% | ― | 32.04% | 23.46% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
SNOW
Snowflake
332.35
106.56
47.19%
ADBE
Adobe
265.60
-81.50
-23.48%
CRM
Salesforce
259.43
18.95
7.88%
ESTC
Elastic
85.11
-3.20
-3.62%
DT
Dynatrace
53.34
4.73
9.73%
DDOG
Datadog
230.05
91.40
65.92%
Snowflake Corporate Events
Business Operations and StrategyExecutive/Board Changes
Snowflake Grants Major Performance-Based Equity to CEO
Positive
Jul 17, 2026
On July 15, 2026, Snowflake’s board compensation committee granted CEO Sridhar Ramaswamy a performance-based restricted stock unit award covering 1,000,000 shares, structured around ambitious share price milestones and extended service condi...
Executive/Board ChangesShareholder Meetings
Snowflake Shareholders Reject Executive Pay, Support Governance Changes
Negative
Jun 30, 2026
On June 29, 2026, Snowflake Inc. held its 2026 Annual Meeting of Stockholders virtually, with 346,602,915 common shares entitled to vote. Stockholders elected Class III directors Teresa Briggs, Mark D. McLaughlin, and Sridhar Ramaswamy to serve un...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.