Snowflake (SNOW) Stock Soars 17% On Earnings Beat: Is There More Upside?
TLDR
- Snowflake reported Q2 fiscal 2027 revenue of $1.55 billion, up 35% year over year, beating analyst estimates of $1.48 billion
- Adjusted EPS came in at $0.62, well above the $0.45 consensus estimate
- SNOW stock surged 16.55% on September 3 following the earnings release and is up roughly 54% year-to-date
- AI analysts are split, with two Buy and four Hold ratings; Wall Street human analysts hold a Strong Buy consensus with an average price target of $435
- Insiders sold over 1.1 million shares worth approximately $318 million last quarter, while Saudi Central Bank nearly doubled its stake
Snowflake stock opened at $338.47 on Monday, sitting well off its 52-week low of $118.30 but below its high of $384.56. The stock jumped 16.55% on September 3 after the company posted fiscal Q2 2027 results that topped expectations across the board.
Revenue came in at $1.55 billion, up 35.1% year over year, beating the $1.48 billion analyst estimate. Product revenue rose 37% to $1.49 billion. Adjusted EPS hit $0.62 versus the $0.45 expected, a beat of $0.17.
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