Bullish
Snowflake's (SNOW) stock surges 21% to $370.25 after strong Q2 earnings and raised guidance.
Snowflake's stock experienced a significant 21% increase, reaching $370.25, following the release of its fiscal second-quarter results, which exceeded analyst expectations. The company reported a 37% year-over-year growth in product revenue, totaling $1.49 billion, and raised its full-year product revenue guidance to $6.07 billion, indicating strong demand and positive market sentiment.
Key points
- Snowflake's Q2 product revenue grew 37% YoY to $1.49 billion, surpassing expectations.
- The company raised its fiscal 2027 product revenue guidance to $6.07 billion, up from $5.84 billion.
- Insider selling occurred, with EVP Christian Kleinerman selling 25,000 shares under a pre-arranged plan.
- Analysts maintain a 'Moderate Buy' rating with an average price target of $414.24.
Sources
- Snowflake Falls 5% as Traders Take Profits on Its Guidance Surge; Datadog Holds Steady24/7 Wall St. · September 4, 2026
- Styrax Capital LP Acquires New Stake in Snowflake Inc. $SNOWMarketBeat · September 6, 2026
- Snowflake (NYSE:SNOW) Posts Earnings Results, Beats Estimates By $0.17 EPSMarketBeat · September 2, 2026
- Rosenblatt raises Snowflake stock price target on strong Q2 resultsInvesting.com · September 3, 2026
AI-generated from public news sources. Not financial advice.
