Snowflake (NYSE:SNOW) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Snowflake (NYSE:SNOW) from a strong sell rating to a hold rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on SNOW. Canaccord Genuity Group reduced their price objective on Snowflake from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Oppenheimer reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, February 26th. KeyCorp cut their price objective on shares of Snowflake from $285.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Bank of America raised their price objective on shares of Snowflake from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Truist Financial dropped their target price on shares of Snowflake from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.58.

Snowflake Stock Up 2.0%

Shares of NYSE:SNOW traded up $3.49 during midday trading on Wednesday, reaching $180.94. The company’s stock had a trading volume of 1,507,423 shares, compared to its average volume of 6,488,470. 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 has a 50 day moving average of $194.68 and a 200-day moving average of $221.87. The firm has a market capitalization of $61.92 billion, a P/E ratio of -45.81 and a beta of 1.16. Snowflake has a 12-month low of $120.10 and a 12-month high of $280.67.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Snowflake had a negative net margin of 28.43% and a negative return on equity of 48.50%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Snowflake’s quarterly revenue was up 30.1% on a year-over-year basis. On average, research analysts anticipate that Snowflake will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total value of $2,601,412.44. Following the completion of the sale, the senior vice president directly owned 218,020 shares of the company’s stock, valued at $48,060,328.80. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the transaction, the executive vice president owned 471,351 shares in the company, valued at approximately $103,650,084.90. This trade represents a 2.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 662,940 shares of company stock worth $135,715,906 over the last ninety days. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several large investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Snowflake by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock worth $165,123,000 after buying an additional 8,002 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Snowflake by 13.5% in the 3rd quarter. Federated Hermes Inc. now owns 408,037 shares of the company’s stock valued at $92,047,000 after acquiring an additional 48,411 shares during the last quarter. Penserra Capital Management LLC grew its position in Snowflake by 32.8% in the third quarter. Penserra Capital Management LLC now owns 153,358 shares of the company’s stock worth $34,586,000 after acquiring an additional 37,911 shares in the last quarter. Vanguard Group Inc. grew its position in Snowflake by 3.1% in the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after acquiring an additional 857,832 shares in the last quarter. Finally, Rheos Capital Works Inc. increased its stake in Snowflake by 102.9% during the third quarter. Rheos Capital Works Inc. now owns 207,000 shares of the company’s stock worth $46,689,000 after acquiring an additional 105,000 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong post?earnings momentum: Snowflake’s late?February Q4/FY2026 results showed product?revenue strength and improving profitability, which traders continue to bid up as the market re?rates growth tied to AI consumption. QuiverQuant: Price Move Analysis
• Positive Sentiment: Major AI partnerships and product expansion: Snowflake has announced multi?year deals with OpenAI and Anthropic, acquired Observe for observability, and launched Cortex Code — moves that solidify its role as an enterprise AI data platform and support expectations for higher consumption. Yahoo: AI deals and product update
• Positive Sentiment: Analyst optimism and price?target upside: Multiple firms are bullish post?results (median recent target ~$245), and several buy/overweight ratings have been reiterated — supporting further upside if execution on AI monetization continues. QuiverQuant: Analyst coverage summary
• Positive Sentiment: Zacks rating change: Zacks upgraded Snowflake from “strong sell” to “hold,” a modest signal that some sell?side skepticism is easing. Zacks Research
• Neutral Sentiment: Market narrative and technical factors: Commentary on “buy the dip” and long?term upside (e.g., Evercore / coverage pieces) is drawing bargain hunters; part of today’s move may reflect momentum/short?covering rather than fresh fundamental news. Barchart / Evercore coverage
• Negative Sentiment: Multiple securities?class?action filings and law?firm notices: Several firms (Rosen, Pomerantz, Portnoy, Faruqi, Bernstein Liebhard, Schall, DJS, etc.) have filed or are soliciting lead?plaintiff claims related to prior disclosures; April 27, 2026 lead?plaintiff deadline is highlighted — legal overhang could pressure sentiment and add litigation costs/uncertainty. GlobeNewswire: Rosen Law Firm notice
• Negative Sentiment: Insider selling: Recent data show extensive insider sales (multiple executives) and no recent insider purchases, which can be seen as a governance/conviction concern by some investors. QuiverQuant: Insider trading summary

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.