Snowflake (NYSE:SNOW) Trading Down 7.4% – Here’s What Happened

Snowflake Inc. (NYSE:SNOW)’s stock price fell 7.4% during trading on Friday . The company traded as low as $136.16 and last traded at $135.6370. 2,243,841 shares were traded during trading, a decline of 65% from the average session volume of 6,452,762 shares. The stock had previously closed at $146.40.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced major updates to Snowflake Intelligence and Cortex Code that reinforce its positioning as a control plane for agentic AI — a strategic product win that supports long‑term revenue monetization for AI workloads. Snowflake (SNOW) Unveils Major Updates to Snowflake Intelligence, Cortex Code
• Positive Sentiment: Partner momentum: Slalom highlighted new Microsoft and Snowflake partner recognitions, which can help drive channel-led customer adoption and services revenue. Slalom Builds Momentum with 2026 Tech Trends…
• Neutral Sentiment: Ex-Snowflake talent impact: Coverage of an ex-Snowflake scientist launching an AI startup that outperformed general models is notable for the ecosystem but does not directly change Snowflake’s fundamentals. The Data Scientist Who Sharpened Snowflake’s Multi-Billion-Dollar Forecasts…
• Negative Sentiment: Short interest jumped sharply in April to ~18.0M shares (up 28.5% vs. March), equal to ~5.6% of float and a short‑interest ratio ~1.9 days — increased hedge/short activity can amplify downside momentum. (No direct link provided in the entry)
• Negative Sentiment: Multiple law firms have filed or are soliciting lead‑plaintiff candidates in a securities‑fraud class action covering purchases between June 27, 2023 and Feb 28, 2024. The legal overhang increases uncertainty and could pressure the stock while litigation proceeds. Representative notices: Rosen Law Firm and Bronstein, Gewirtz & Grossman. SNOW Deadline: SNOW Investors Have Opportunity to Lead Snowflake Inc. Securities Fraud Lawsuit Bronstein, Gewirtz & Grossman LLC Urges Snowflake Inc. Investors to Act…
• Negative Sentiment: Analyst and market skepticism on AI demand: KeyBanc trimmed its price target citing AI‑related demand concerns and channel checks, signaling near‑term revenue risk and contributing to negative sentiment. No Respite For Snowflake (SNOW) As AI Fears Continue Driving The Stock Down

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SNOW shares. Sanford C. Bernstein reduced their price objective on Snowflake from $237.00 to $195.00 and set a “market perform” rating on the stock in a research note on Thursday, February 26th. The Goldman Sachs Group reduced their price objective on Snowflake from $286.00 to $246.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. TD Cowen reduced their price objective on Snowflake from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Scotiabank reduced their price objective on Snowflake from $290.00 to $205.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Morgan Stanley reduced their price objective on Snowflake from $270.00 to $245.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $242.19.

Snowflake Stock Performance

The firm has a fifty day simple moving average of $161.13 and a 200-day simple moving average of $205.72. The company has a market cap of $48.45 billion, a PE ratio of -35.48 and a beta of 1.23. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company posted $0.30 earnings per share. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, research analysts forecast that Snowflake Inc. will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $59,728.63. Following the sale, the director owned 22,912 shares of the company’s stock, valued at approximately $3,395,787.52. The trade was a 1.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Emily Ho sold 2,141 shares of Snowflake stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $173.97, for a total value of $372,469.77. Following the completion of the sale, the chief accounting officer directly owned 44,553 shares in the company, valued at $7,750,885.41. This represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 394,313 shares of company stock worth $67,477,780 in the last three months. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNOW. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Snowflake by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock valued at $165,123,000 after buying an additional 8,002 shares during the period. Federated Hermes Inc. grew its stake in shares of Snowflake by 13.5% during the 3rd quarter. Federated Hermes Inc. now owns 408,037 shares of the company’s stock valued at $92,047,000 after buying an additional 48,411 shares during the period. Assetmark Inc. grew its stake in shares of Snowflake by 99.1% during the 4th quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock valued at $43,577,000 after buying an additional 98,870 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at $116,882,000. Finally, Penserra Capital Management LLC grew its stake in shares of Snowflake by 32.8% during the 3rd quarter. Penserra Capital Management LLC now owns 153,358 shares of the company’s stock valued at $34,586,000 after buying an additional 37,911 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.