Snowflake (SNOW) Stock Forecast & Price Target

$167.44 -3.91 (-2.28%)

(As of 11/22/2024 ET)

Snowflake - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 38 Analyst Ratings

Sell
1

Hold
11

Buy
26

Based on 38 Wall Street analysts who have issued ratings for Snowflake in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 38 analysts, 1 has given a sell rating, 11 have given a hold rating, and 26 have given a buy rating for SNOW.

Consensus Price Target

$180.23
7.64% Upside

According to the 38 analysts' twelve-month price targets for Snowflake, the average price target is $180.23. The highest price target for SNOW is $223.00, while the lowest price target for SNOW is $121.00. The average price target represents a forecasted upside of 7.64% from the current price of $167.44.

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SNOW Analyst Ratings Over Time

Type	Current Forecast 11/24/23 to 11/23/24	1 Month Ago 10/25/23 to 10/24/24	3 Months Ago 8/26/23 to 8/25/24	1 Year Ago 11/24/22 to 11/24/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	26 Buy rating(s)	25 Buy rating(s)	25 Buy rating(s)	19 Buy rating(s)
Hold	11 Hold rating(s)	12 Hold rating(s)	11 Hold rating(s)	6 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$180.23	$174.74	$176.03	$189.52
Forecasted Upside	7.64% Upside	52.06% Upside	51.93% Upside	10.70% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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SNOW Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

SNOW Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Snowflake Stock vs. The Competition

Type	Snowflake	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.66	2.67	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	7.61% Upside	543.36% Upside	7.66% Upside
News Sentiment Rating	Positive News See Recent SNOW News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/21/2024	Truist Financial 2 of 5 stars		Reiterated Rating	Buy ➝ Buy	$210.00 ➝ $210.00	+20.93%
11/21/2024	Mizuho 2 of 5 stars		Boost Target	Outperform ➝ Outperform	$165.00 ➝ $195.00	+15.67%
11/21/2024	Wedbush 4 of 5 stars	D. Ives Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral ➝ Neutral	$130.00 ➝ $160.00	-5.09%
11/21/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$180.00 ➝ $190.00	+11.82%
11/21/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$180.00 ➝ $190.00	+11.82%
11/21/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$160.00 ➝ $185.00	+9.65%
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11/21/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$175.00 ➝ $188.00	+11.43%
11/21/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$180.00 ➝ $180.00	+8.15%
11/21/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$142.00 ➝ $172.00	+3.34%
11/21/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$145.00 ➝ $180.00	+11.80%
11/21/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$170.00 ➝ $190.00	+47.15%
11/21/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Turrin Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Equal Weight ➝ Equal Weight	$125.00 ➝ $150.00	+16.17%
11/21/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Overweight ➝ Overweight	$165.00 ➝ $185.00	+43.28%
11/21/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$160.00 ➝ $200.00	+54.89%
11/21/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$150.00 ➝ $185.00	+43.28%
11/21/2024	Monness Crespi & Hardt Subscribe to MarketBeat All Access for the recommendation accuracy rating	B. White Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy	$140.00 ➝ $188.00	+45.60%
11/19/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$180.00 ➝ $180.00	+40.12%
11/18/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$200.00 ➝ $183.00	+44.58%
10/3/2024	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$175.00 ➝ $175.00	+58.37%
10/1/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Bonner Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Hold
9/24/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$155.00 ➝ $125.00	+13.09%
8/23/2024	Hsbc Global Res Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Bersey Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Moderate Sell ➝ Hold
8/23/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Reduce ➝ Hold	$119.00 ➝ $121.00	+5.03%
8/22/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$195.00 ➝ $165.00	+40.51%
8/22/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Equal Weight ➝ Equal Weight	$175.00 ➝ $175.00	+47.88%
8/22/2024	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$215.00 ➝ $190.00	+60.55%
8/22/2024	JMP Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Market Outperform ➝ Market Outperform	$235.00 ➝ $190.00	+40.73%
8/21/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$225.00 ➝ $185.00	+40.25%
8/20/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$200.00 ➝ $165.00	+25.53%
8/19/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$200.00 ➝ $168.00	+27.25%
7/1/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$220.00 ➝ $220.00	+56.06%
5/24/2024	Macquarie Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$205.00 ➝ $200.00	+26.53%
5/23/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Perform ➝ Market Perform	$171.00 ➝ $185.00	+16.52%
5/23/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$170.00 ➝ $185.00	+13.30%
5/2/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Outperform	$200.00	+28.19%
3/19/2024	Redburn Atlantic Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Sell	$180.00 ➝ $125.00	-20.03%
3/15/2024	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Sell ➝ Neutral
2/2/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$190.00 ➝ $223.00	+6.26%
11/8/2023	Capital One Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Equal Weight ➝ Overweight	$195.00	+22.20%
6/28/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
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6/28/2023	William Blair Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform
5/25/2023	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Peer Perform
12/5/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$250.00 ➝ $200.00	+33.56%
12/1/2022	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$235.00 ➝ $225.00	+57.45%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 09:43 AM ET.

Should I Buy Snowflake Stock? SNOW Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, November 22, 2024. Please send any questions or comments about these Snowflake pros and cons to contact@marketbeat.com.

Snowflake
Bull Case

Here are some ways that investors could benefit from investing in Snowflake Inc.:

Snowflake Inc. has shown strong revenue growth, reporting $868.80 million in revenue for the latest quarter, which is a 28.9% increase compared to the same period last year. This growth indicates a robust demand for its cloud-based data platform.
The stock currently trades at $129.12, which is significantly below its twelve-month high of $237.72. This may present a buying opportunity for investors looking for potential upside as the stock could rebound towards its previous highs.
Institutional investors hold a significant portion of Snowflake Inc.'s stock, with 65.10% owned by hedge funds and other institutions. This level of institutional interest can be a positive indicator of the company's stability and growth potential.
Recent upgrades from research firms, including a shift from "moderate sell" to "hold" by HSBC, suggest a more favorable outlook for the stock, which could attract more investors.
Snowflake Inc. has a diverse client base and operates in a growing market for cloud data solutions, positioning it well for future expansion and profitability.

Snowflake
Bear Case

Investors should be bearish about investing in Snowflake Inc. for these reasons:

The company has a negative price-to-earnings (P/E) ratio of -42.57, indicating that it is currently not profitable. A negative P/E ratio can be a red flag for investors as it suggests that the company is not generating earnings relative to its stock price.
Snowflake Inc. has a negative return on equity of 19.62%, which means that the company is not effectively generating profit from its equity. This could raise concerns about management efficiency and overall financial health.
Despite recent revenue growth, the company reported a negative net margin of 31.73%, indicating that it is not retaining a significant portion of its revenue as profit. This could limit its ability to reinvest in growth or return value to shareholders.
Insider selling activity has been noted, with executives selling shares recently. This could signal a lack of confidence in the company's short-term performance or future prospects.
The stock has experienced volatility, with a significant drop from its twelve-month high, which may deter risk-averse investors looking for stable investments.

SNOW Forecast - Frequently Asked Questions

: According to the research reports of 38 Wall Street equities research analysts, the average twelve-month stock price forecast for Snowflake is $180.23, with a high forecast of $223.00 and a low forecast of $121.00.
: 38 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Snowflake in the last year. There is currently 1 sell rating, 11 hold ratings and 26 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" SNOW shares.
: According to analysts, Snowflake's stock has a predicted upside of 7.64% based on their 12-month stock forecasts.
: Over the previous 90 days, Snowflake's stock had 2 upgrades by analysts.
: Snowflake has been rated by research analysts at Argus, Bank of America, Barclays, Citigroup, DA Davidson, Deutsche Bank Aktiengesellschaft, Evercore ISI, Jefferies Financial Group, KeyCorp, Mizuho, Monness Crespi & Hardt, Needham & Company LLC, Oppenheimer, Piper Sandler, Rosenblatt Securities, Royal Bank of Canada, TD Cowen, Truist Financial, UBS Group, Wedbush, and Wells Fargo & Company in the past 90 days.
: Analysts like Snowflake less than other "computer and technology" companies. The consensus rating score for Snowflake is 2.66 while the average consensus rating score for "computer and technology" companies is 2.68. Learn more on how SNOW compares to other companies.

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This page (NYSE:SNOW) was last updated on 11/23/2024 by MarketBeat.com Staff

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Snowflake (SNOW) Stock Forecast & Price Target