Snowflake Reports Strong Q2 Results, Eight Analysts Raise Price Targets
On September 2, 2026, Snowflake Inc. (NYSE:SNOW) reported second-quarter fiscal 2027 results that exceeded expectations across key metrics. Revenue rose to $1.55 billion—35% year-over-year—and product revenue grew by 37%. Adjusted earnings came in at $0.62 per share, well above the consensus of $0.45. Management also raised full-year product revenue guidance from $5.84 billion to $6.07 billion. Following these results, Snowflake's stock surged over 20% in extended trading within two days and prompted eight major firms—including Goldman Sachs, JPMorgan, and RBC Capital—to raise their price targets significantly. Analysts cited strong AI product adoption, margin expansion, and consistent revenue acceleration as key drivers of the optimism. Despite this positive momentum, Snowflake trades at a high valuation—166.7 times forward earnings—as compared to peers like Datadog (76.9) and MongoDB (62.9). The company also reported a GAAP operating loss for the quarter with negative 17% margins.
Topics: Analyst Upgrades Earnings Report Revenue Growth Snowflake Stock Price Movement