Key Stats for Snowflake Stock
- Today’s Price Change: 9%
- Current Share Price: $194
- 52-Week High: $194
- SNOW Stock Price Target: $203
What Happened?
Snowflake (SNOW) stock surged 9% after the data analytics company delivered better-than-expected first-quarter results and raised its fiscal 2026 revenue forecast.
The cloud data giant reported adjusted earnings of $0.24 per share, beating analyst estimates of $0.21, while revenue climbed 26% year-over-year to $1.04 billion. Most notably, Snowflake’s product revenue of $996.8 million grew 26% year-over-year, representing a 3.6% beat versus estimates of $962 million.
CEO Sridhar Ramaswamy highlighted the company’s momentum, stating, “Snowflake delivered another strong quarter, with product revenue of $997 million, up a strong 26% year-over-year, and remaining performance obligations totaling $6.7 billion.”
Snowflake now has 606 customers with trailing 12-month product revenue greater than $1 million and serves 754 Forbes Global 2000 customers, representing 27% and 4% year-over-year growth, respectively.
For the current quarter, Snowflake forecasts product revenue between $1.035 billion and $1.040 billion, well above the consensus estimate of $1.021 billion.
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What the Market Is Telling Us
The positive reaction to SNOW stock reflects investor enthusiasm about its ability to capitalize on the artificial intelligence boom while maintaining robust growth in its core data analytics business.
Snowflake’s strategic partnerships with OpenAI and Anthropic are enabling customers to build and run more advanced AI models, positioning it as a critical infrastructure provider in the AI ecosystem.
RBC Capital analyst Matthew Hedberg noted this represented “a beat of 3.6% vs the 3.1% beat last quarter,” showing accelerating momentum.
Snowflake’s impressive net revenue retention rate of 124% demonstrates strong customer engagement and expansion within existing accounts.
The company’s remaining performance obligations of $6.7 billion, up 34% year-over-year, provide visibility into future revenue streams and suggest continued strong demand for cloud-based data analytics solutions.
The raised fiscal 2026 product revenue target of $4.325 billion signals management’s confidence in sustained growth as enterprises accelerate their AI initiatives and cloud migrations.
With over 11,000 customers and growing penetration among large enterprises, Snowflake stock appears well-positioned to benefit from the ongoing digital transformation trend.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
