Snowflake

Snowflake Inc (NYSE:SNOW), will be reporting its fourth-quarter earnings on Wednesday, Feb. 28. Wall Street expects 18 cents in EPS and $759.10 million in revenues as the company reports after market hours. Snowflake is known for its cloud-based data warehousing platform, providing scalable and efficient data storage, processing, and analytics solutions for organizations. The SNOW Analyst: Needham analyst Mike Cikos, CFA has a Buy rating on Snowflake stock with a price target of $265 (raised from $225) a share. The SNOW Thesis: Cikos believes Snowflake is poised for a robust performance in FY24, with an expectation to outperform both revenue and margin guidance. To this end, he underscored the pivotal role of Cloud migrations, saying, “Cloud migrations continue to serve as a foundation to growth, especially as the last 18 months’ headwinds dissipate.” “Snowflake is undertaking a meaningful expansion of the number of use-cases to go well beyond a ‘Data Warehouse’ in pursuit of […]

Piper Sandler analyst Brent Bracelin reiterates Snowflake with a Overweight and maintains $250 price target.

UBS analyst Karl Keirstead maintains Snowflake (NYSE:SNOW) with a Neutral and raises the price target from $185 to $225.

Snowflake (NYSE:SNOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/21/2024 22.97% Needham $225 → $265 Maintains Buy 02/20/2024 16.01% Truist Securities $230 → $250 Maintains Buy 02/15/2024 -0.7% HSBC → $214 Downgrades Buy → Hold 02/02/2024 3.48% Raymond James $190 → $223 Maintains Outperform 01/22/2024 -1.62% JMP Securities → $212 Reiterates Market Outperform → Market Outperform 01/16/2024 6.73% Truist Securities $210 → $230 Maintains Buy 01/12/2024 -8.12% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 4.41% Needham → $225 Reiterates Buy → Buy 01/05/2024 6.73% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -25.75% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 16.01% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 6.73% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -11.83% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 4.87% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023

Needham analyst Mike Cikos maintains Snowflake (NYSE:SNOW) with a Buy and raises the price target from $225 to $265.

Snowflake (NYSE:SNOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/20/2024 10.13% Truist Securities $230 → $250 Maintains Buy 02/15/2024 -5.73% HSBC → $214 Downgrades Buy → Hold 02/02/2024 -1.77% Raymond James $190 → $223 Maintains Outperform 01/22/2024 -6.61% JMP Securities → $212 Reiterates Market Outperform → Market Outperform 01/16/2024 1.32% Truist Securities $210 → $230 Maintains Buy 01/12/2024 -12.78% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 -0.89% Needham → $225 Reiterates Buy → Buy 01/05/2024 1.32% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -29.52% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 10.13% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 1.32% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -16.3% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 -0.44% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 -16.3% Raymond James $170 → $190 Maintains Outperform

Snowflake (NYSE:SNOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/15/2024 -9.05% HSBC → $214 Downgrades Buy → Hold 02/02/2024 -5.23% Raymond James $190 → $223 Maintains Outperform 01/22/2024 -9.9% JMP Securities → $212 Reiterates Market Outperform → Market Outperform 01/16/2024 -2.25% Truist Securities $210 → $230 Maintains Buy 01/12/2024 -15.85% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 -4.38% Needham → $225 Reiterates Buy → Buy 01/05/2024 -2.25% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -32% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 6.25% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 -2.25% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -19.25% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 -3.95% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 -19.25% Raymond James $170 → $190 Maintains Outperform 11/30/2023 -0.13% Stifel $200 → $235 Maintains Buy 11/30/2023

Eric J. Savitz Snowflake (NYSE:SNOW) stock has soared nearly 70% since late October, including a 16% gain since the start of 2024, reaching its highest level in nearly two years. At least one analyst thinks it’s time to take some profits. Stephen Bersey, head of U.S. technology research at HSBC Global Research, on Thursday cut his rating on Snowflake stock to Hold from Buy, while inching up his target price to $214 from $212 to reflect higher earnings estimates. But that’s still below the stock’s current level — Snowflake shares are off 2.7% on Thursday at $229.60. Snowflake, which provides cloud-based data-warehousing software, is widely perceived as a beneficiary of the enterprise artificial-intelligence trend. Bersey points out in a research note that the company has “strong fundamentals,” with expected adjusted earnings per share to rise at a compounded annual rate of 47% through 2028, driven by a combination of 30%

Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/02/2024 7.73% Raymond James $190 → $223 Maintains Outperform 01/22/2024 2.42% JMP Securities → $212 Reiterates Market Outperform → Market Outperform 01/16/2024 11.11% Truist Securities $210 → $230 Maintains Buy 01/12/2024 -4.35% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 8.7% Needham → $225 Reiterates Buy → Buy 01/05/2024 11.11% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -22.71% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 20.77% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 11.11% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -8.21% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 9.18% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 -8.21% Raymond James $170 → $190 Maintains Outperform 11/30/2023 13.53% Stifel $200 → $235 Maintains Buy 11/30/2023 1.45% Truist Securities $200 → $210 Maintains Buy 11/30/2023

Raymond James analyst Simon Leopold maintains Snowflake (NYSE:SNOW) with a Outperform and raises the price target from $190 to $223.

Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 22.58% Truist Securities $210 → $230 Maintains Buy 01/12/2024 5.52% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 19.91% Needham → $225 Reiterates Buy → Buy 01/05/2024 22.58% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -14.73% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 33.23% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 22.58% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 1.26% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 20.44% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 1.26% Raymond James $170 → $190 Maintains Outperform 11/30/2023 25.24% Stifel $200 → $235 Maintains Buy 11/30/2023 11.92% Truist Securities $200 → $210 Maintains Buy 11/30/2023 12.98% JMP Securities $200 → $212 Maintains Market Outperform 11/30/2023 11.92% Mizuho $180 → $210 Maintains Buy 11/30/2023 27.9% Oppenheimer $220

Truist Securities analyst Ki Bin Kim maintains Snowflake (NYSE:SNOW) with a Buy and raises the price target from $210 to $230.