Canaccord Genuity Group Cuts Snowflake (NYSE:SNOW) Price Target to $240.00

Snowflake (NYSE:SNOW) had its price objective reduced by Canaccord Genuity Group from $270.00 to $240.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on SNOW. Oppenheimer reiterated a “buy” rating on shares of Snowflake in a research note on Thursday. Zacks Research downgraded shares of Snowflake from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. DA Davidson lowered their price target on Snowflake from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC dropped their price objective on shares of Snowflake from $280.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company cut their target price on Snowflake from $290.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $248.58.

Snowflake Trading Down 2.7%

SNOW opened at $168.42 on Thursday. Snowflake has a 12 month low of $120.10 and a 12 month high of $280.67. The stock has a fifty day moving average price of $198.95 and a 200-day moving average price of $222.78. The firm has a market cap of $57.63 billion, a price-to-earnings ratio of -42.64 and a beta of 1.14. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 48.50%. Snowflake’s revenue was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. As a group, equities research analysts anticipate that Snowflake will post -2.36 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 200,000 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00. Following the completion of the sale, the director owned 50,329 shares in the company, valued at $11,164,482.07. This represents a 79.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the completion of the sale, the director directly owned 32,756 shares of the company’s stock, valued at $7,555,171.40. The trade was a 60.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 713,681 shares of company stock worth $148,264,518. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds have recently added to or reduced their stakes in SNOW. Vanguard Group Inc. grew its holdings in Snowflake by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after buying an additional 1,448,094 shares during the last quarter. Jennison Associates LLC raised its holdings in Snowflake by 27.7% in the fourth 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 during the period. State Street Corp lifted its holdings in shares of Snowflake by 1.4% during the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after acquiring an additional 94,293 shares in the last quarter. Nuveen LLC lifted its stake in shares of Snowflake by 2.3% during 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 in the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock worth $1,108,045,000 after acquiring an additional 652,485 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Q4 beat and healthy demand: Snowflake reported ~30% y/y revenue growth and an EPS beat, with improving cash flow and strong customer metrics that underpin medium‑term revenue momentum. Snowflake Stock Surges After Q4 Revenue Jumps 30%, EPS Tops Estimates
• Positive Sentiment: AI positioning and market opportunity: Management highlighted agentic AI capabilities, partnerships (OpenAI/Anthropic integrations) and accelerating enterprise AI adoption — including faster growth in India — supporting a durable addressable market for Snowflake’s data cloud. Snowflake sees high levels of AI adoption among India Inc; country growth faster than global
• Positive Sentiment: Market technical/bull case: Some analysts and MarketBeat argue the sell‑off is overdone, institutions have been accumulating, and Snowflake’s cross‑cloud data position makes it central to AI workflows — a potential catalyst for a recovery. Is Snowflake’s Stock Meltdown Over? Signs Point to a Bottom
• Neutral Sentiment: Analyst repositioning: Many firms kept Buy/Overweight ratings but trimmed price targets after the quarter (UBS, Morgan Stanley, JPMorgan, Canaccord, etc.), leaving a mix of upside potential and reduced near‑term analyst support. These Analysts Slash Their Forecasts On Snowflake After Q4 Results
• Negative Sentiment: Mixed outlook disappointed some investors: Management’s FY27 product revenue guide (~27%) was viewed as conservative relative to some buyside expectations, contributing to a share pullback despite the beat. Snowflake’s stock dips as the software company gives a mixed outlook
• Negative Sentiment: Rising legal risk: Multiple law firms and class‑action notices were filed or publicized this week, creating legal overhang and increasing near‑term uncertainty for shareholders. Deadlines for lead‑plaintiff filings are being emphasized. Bronstein, Gewirtz & Grossman LLC Urges Snowflake Inc. Investors to Act: Class Action Filed
• Negative Sentiment: Profitability concerns persist: Commentary (e.g., Motley Fool) notes that while growth is strong, durable GAAP profitability remains elusive — a point that keeps some investors sidelined despite the AI narrative. Why I’m Still Not Buying Snowflake Stock

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.