Snowflake Inc. provides a cloud-based data platform for various organizations in the United States and internationally. The company's platform includes artificial intelligence (AI) Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data applications, and share data and data products, as well as applies AI for solving business problems. It serves financial services, advertising, media and entertainment, retail and consumer goods, healthcare and life sciences, manufacturing, technology, telecom, travel and hospitality, and government and defense industries, as well as the public sector. the company has a collaboration with OpenAI, L.L.C. for the development of AI solutions for joint enterprise customers that deliver tangible return on investment. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was incorporated in 2012 and is based in Menlo Park, California.
Country
Sector
Themes
Also in
Price· split & dividend adjusted
No price history for this asset yet.
News & notes movingSNOW
Artificial Intelligence▲3
Snowflake Stock Priced for Growth That Arrives at Lower Gross Margin
Snowflake's stock has more than doubled over the trailing three months and now trades at the top of its 52-week range, but the growth acceleration is led by AI products that carry a lower gross margin than its core platform. Product revenue growth accelerated to 34% year over year in fiscal Q1 2027, and the company raised its fiscal 2027 product revenue outlook to 31% growth from 27%, naming Cortex Code as the largest driver of the increase. Snowflake holds its 75% non-GAAP product gross margin guide for fiscal 2027 by offsetting the AI margin drag with lower bandwidth costs under its AWS contract, and it raised its full-year non-GAAP operating margin outlook from 12.5% to 13.5%. The stock carries a price-to-operating-cash-flow multiple of 92.9 against 15.6 for the S&P 500, and the company reports fiscal Q2 2027 on September 2.
Nebius Drops 4% After Pricing $5 Billion Convertible Note
Nebius Group stock fell 4% to $214.80 midday Thursday after pricing a $5 billion convertible note offering overnight, dragging Cloudflare down 3% to $282.75 and Snowflake down 2% to $319.85 on dilution read-through fears. The deal was upsized from $4.5 billion and comprises $3 billion of 0.5% notes due 2030 and $2 billion of 4.5% notes due 2034, with expected net proceeds of $4.94 billion. Nebius also agreed to exchange $400 million of 2% notes due 2029 and $400 million of 3% notes due 2031 with a limited group of holders, who will receive 15.8 million Class A shares. CoreWeave stock held near its range, down only 1% to $89.68, confirming the drop is issuer-specific rather than a broad cloud rotation. The three sliding names gained anywhere from 48% to 167% year-to-date before today, making this a crowded-winner pullback that investors with narrow cloud exposure should expect to repeat.
Snowflake Adds OptionMetrics Data to Private Marketplace
Snowflake has added OptionMetrics data to its private cloud marketplace, giving users direct access to options datasets across multiple regions. The integration includes historical and intraday options data for the US, Europe, Asia, and Canada, aimed at institutional and quantitative users. This move expands Snowflake's role as a data hub for investment research, trading, and risk management workflows.
Zeta Global Q2 Earnings Beat, Raises Full-Year Guidance
Zeta Global reported second-quarter revenue of $442.8 million, beating analyst estimates of $420.7 million and representing 43.5% year-on-year growth. Adjusted EPS came in at $0.27 versus expectations of $0.19, while adjusted EBITDA reached $91.7 million, above the $86.44 million consensus. The company raised its full-year revenue guidance to $1.82 billion at the midpoint from $1.79 billion, and its EBITDA guidance to $405.2 million, above analyst estimates of $397.4 million. Management attributed the strong performance to accelerated adoption of its AI-powered Athena platform and partnerships with OpenAI, Palantir, and Snowflake. During the earnings call, analysts questioned executives about multi-use case adoption, partnership-driven go-to-market success, productization of ZBI use cases, expansion into business intelligence, and the impact of Palantir Foundry infrastructure on Athena users.
Snowflake Adds Alteryx One No-Code AI Data App to Its Marketplace
Snowflake added Alteryx One to Snowflake Marketplace, giving joint customers a no-code way to work with AI-ready enterprise data within the Snowflake AI Data Cloud. The integration allows business teams and IT to run analysis, workflows, and automation directly inside Snowflake through Alteryx One. The move extends Snowflake's partner ecosystem and aims to support secure, governed, and scalable analytics and AI deployment for enterprise users.
Snowflake Signs $6 Billion Multiyear Deal with AWS
Snowflake has agreed to a multiyear, US$6 billion commitment with Amazon Web Services to support enterprise AI adoption. The deal, alongside a series of AI-focused launches and integrations including Cortex AI Gateway and new security and analytics partnerships, has coincided with a sharp acceleration in Snowflake's share price momentum, with the stock recording a 30-day return of 26.41% and a one-year total shareholder return of 72.31%. The stock last closed at $330.49, and while a narrative fair value estimate pegs it at $78.83, a discounted cash flow model suggests a future cash flow value of $443.48 per share.
Zeta Global raises full-year guidance after 44% revenue jump
Zeta Global reported second-quarter revenue of $443 million, up 44% year over year, and raised its full-year outlook across revenue, profit, and cash flow. Adjusted EBITDA rose 56% to $92 million, and the company returned to GAAP profitability with net income of $8.2 million. Full-year revenue guidance was increased by $33 million at the midpoint to $1.818 billion, while adjusted EBITDA guidance was raised to $405 million and free-cash-flow guidance to $255 million. The company highlighted accelerating AI adoption, with 40% of super-scaled customers becoming monthly active users of its Athena conversational AI offering within 130 days of availability. Zeta also expanded beyond marketing through its Zeta Business Intelligence offering and partnerships with OpenAI, Snowflake, and Palantir.
Zeotap launches full Composable CDP as Snowflake Native App on Snowflake Marketplace
Zeotap has launched its end-to-end Composable Customer Data Platform as a Snowflake Native App on Snowflake Marketplace. The complete CDP runs inside an enterprise's own Snowflake account using Snowpark Container Services, meaning identity resolution, audience segmentation, journey orchestration and activation all execute without customer data ever leaving Snowflake's secure perimeter. The app removes the need to copy data into a separate system, with unified profiles materialised as customer-owned Snowflake tables and only hashed audiences leaving at activation. Capabilities include deterministic and probabilistic identity resolution, SQL-free audience building, multi-step journey orchestration, AI models on Snowflake Cortex AI, consent and governance dashboards, and over 250 activation endpoints. Eligible customers can purchase the app using existing committed Snowflake spend through the Marketplace Capacity Drawdown Program, potentially moving from connection to first live activation in as little as eight weeks.
Palantir and Snowflake Post Divergent AI-Driven Quarters
Palantir and Snowflake reported contrasting quarterly results that highlight their different positions in the enterprise AI market. Palantir's revenue surged 84.7% year-over-year, driven by a 133% jump in U.S. commercial revenue to $595 million and an 84% increase in U.S. government revenue to $687 million, while CEO Alex Karp noted its Rule of 40 score reached 145%, a level he said only NVIDIA, Micron, and SK hynix have matched. Snowflake posted 33.5% revenue growth with product revenue of $1.33 billion, net revenue retention of 126%, and remaining performance obligations up 38% to $9.21 billion, as Cortex Code surpassed 7,100 accounts and Snowflake Intelligence accounts more than doubled sequentially. Palantir generated $925 million in free cash flow and raised its full-year revenue guidance to between $7.65 billion and $7.66 billion, while Snowflake continued to invest heavily through a $6 billion multi-year AWS agreement, an OpenAI partnership, and acquisitions, resulting in a GAAP operating loss of $326 million but an improved non-GAAP operating margin guidance of 13.5%. Year-to-date, Palantir shares have fallen 30.77% amid a price-to-earnings ratio near 174 and insider selling, whereas Snowflake shares have risen 33.7% with 44 buy ratings against 6 holds.
Palantir Stock Falls 40% but Revenue Growth Accelerates to 85%
Palantir Technologies shares have dropped 40% from their November peak near $207 to around $122, yet the company's financials show accelerating momentum with first-quarter 2026 revenue up 85% to $1.63 billion and net dollar retention reaching 150%. Full-year 2026 guidance was raised to $7.65 billion, implying 71% growth, while gross margins held at about 84% and U.S. commercial revenue surged 133%. Critics have labeled Palantir an LLM wrapper, but its core differentiator remains the Ontology, a governed framework that integrates enterprise data, business logic, and real-world operations in ways competitors struggle to replicate. UBS analysts pushed back on the wrapper narrative after AIPCon, citing data integration and governance advantages that current frontier models lack on their own. Even after the sell-off, the stock trades at 130 to 140 times trailing earnings with a price-to-sales ratio of 56, leaving little room for missteps as rivals like Databricks and Snowflake intensify competition.
Snowflake Raises Guidance on Early AI Product Traction
Snowflake raised its guidance after seeing enough traction with one of its early AI products to attribute the increase specifically to that product, according to Spyglass Capital Management's second-quarter investor letter. The cloud data platform company exceeded consensus expectations for both revenue and earnings in its first-quarter results. Spyglass noted that Snowflake's long-term potential remains misunderstood by most investors, and while the firm trimmed its position due to share price appreciation, Snowflake remains a core holding. Snowflake shares closed at $298.10 on July 30, 2026, with a one-month return of 14.59% and a 52-week gain of 45.40%, giving it a market capitalization of $103.32 billion.
Snowflake Co-Founder Benoit Dageville Sells 50,000 Shares Under Pre-Set Trading Plan
Snowflake co-founder and director Benoit Dageville disposed of 66,668 shares on July 29, 2026, in a transaction valued at approximately $18.7 million. The disposition included 50,000 shares sold and 16,668 shares gifted, representing a 1% reduction in his total equity holdings. Following the transaction, Dageville retains a stake worth $1.27 billion, comprising roughly 181,000 shares held directly and 4.3 million shares held indirectly through trusts and grantor retained annuity trusts. The sale was executed under a Rule 10b5-1 trading plan adopted on April 3, 2026, and came after Snowflake's stock had appreciated 29% over the prior year. Snowflake, a cloud-native data platform provider with a market capitalization of $98.1 billion, reported trailing twelve-month revenue of $5.0 billion and a net loss of $1.2 billion.
Cursor Launches Benchmark Partners Program with AWS, BCG, Databricks, McKinsey, NVIDIA, and Snowflake
Cursor has launched the Cursor Benchmark Partners program, a global alliance with Amazon Web Services, BCG, Databricks, McKinsey, NVIDIA, and Snowflake to deliver what it calls the first referenceable enterprise AI adoption stack. The initiative aims to help organizations move agentic AI workflows from pilot to production scale by providing a pre-vetted framework spanning technology, infrastructure, data governance, and services. Over the next year, the partners will develop new capabilities including Forward Deployed Engineering capacity and dedicated research and implementation resources. The program is organized around three key areas: transformation and adoption, context and governance, and accelerated cloud and deployment. Cursor says this marks the first step in its broader partner strategy to support enterprise AI adoption and production deployment.
Palantir Gains Hedge Fund Backing While Snowflake Sees Trims
Hedge fund ownership of Palantir Technologies rose in the first quarter even as funds trimmed positions in rival Snowflake. The number of hedge funds holding Palantir increased from 89 to 96, while those holding Snowflake fell from 90 to 80. Short interest also diverged, with only about 3.64% of Palantir's float sold short versus 6.65% for Snowflake. Palantir trades at roughly 41 times forward sales and recently raised full-year revenue guidance to between $7.65 billion and $7.66 billion after first-quarter revenue jumped 85% to $1.63 billion. Snowflake, which remains unprofitable on a GAAP basis, trades at a forward price-to-sales multiple in the 9 to 14 times range.
Snowflake Projects 30% Revenue Growth as Enterprise AI Adoption Accelerates
Snowflake expects fiscal second-quarter 2027 product revenues between $1.415 billion and $1.420 billion, implying 30% year-over-year growth driven by accelerating enterprise AI adoption. The company's AI products, including Snowflake Intelligence and Cortex Code, are seeing rapid uptake, with Cortex Code already used by more than 7,100 accounts. Snowflake recently unveiled Cortex AI Gateway and new AI security capabilities to help enterprises securely deploy and manage AI agents across platforms, building on its acquisition of Natoma. Despite strong AI momentum, Snowflake faces stiff competition from Amazon and Oracle, with Amazon Web Services' chips business exceeding a $20 billion annual revenue run rate and Oracle introducing AI-powered hotel operations tools. Snowflake shares have gained 23.2% year-to-date, outperforming the broader Zacks Computer & Technology sector's 9.6% increase, though the stock trades at a premium with a forward price-to-sales ratio of 13.79 times.
1Password and Snowflake partner to secure third-party AI agent access
1Password announced a new integration with Snowflake to help enterprises reduce identity risk from third-party AI agents. The integration, expected to be generally available in the second half of 2026, will allow organizations to securely connect, govern, and audit agents across business systems and platforms. It aims to establish a new benchmark for enterprise AI governance by enabling delegated access without exposing raw credentials and maintaining a complete audit trail. The collaboration addresses the growing need for a modern security model as AI agents increasingly make autonomous decisions and access sensitive data.
Snowflake Preferred Over Marvell Technology for Long-Term AI Investment in 2026
An analysis comparing Marvell Technology and Snowflake concludes that Snowflake is the better long-term artificial intelligence stock to buy in 2026. Marvell Technology reported fiscal 2026 revenue of $8.2 billion, up 42.1%, with net income of $2.7 billion and a net margin of 32.6%, while Snowflake grew revenue 29.2% to $4.7 billion but posted a net loss of $1.3 billion and a negative 28.4% net margin. The argument for Snowflake centers on its focus on data, which is essential for AI, making its business more resilient over time compared to Marvell's hardware infrastructure, which may see sales contract after initial build-outs. Snowflake's net loss narrowed to $295.6 million in its fiscal first quarter from $430 million a year earlier, indicating progress toward profitability. Marvell faces risks from customer concentration, with its ten largest customers accounting for roughly 82% of net revenue, and geopolitical tensions affecting its supply chain.
Snowflake’s OSI push signals deeper bet on open standards for its AI cloud
Snowflake is advancing open, vendor-neutral data standards through its leadership of the Open Semantic Interchange, or OSI, an initiative that recently added Solid Data Inc. as a member. The OSI aims to unify semantic metadata so organizations can more easily share and analyze data for AI and business intelligence. This move, alongside Snowflake’s integration with Rogo’s AI agents using a managed Model Context Protocol server, highlights the company’s effort to make AI workloads easier and safer on its platform. While the development reinforces Snowflake’s role in open data ecosystems, it does not materially change the near-term focus on monetizing AI products and managing costs, nor the key risk that hyperscalers and AI-native rivals could pressure growth and margins.
Snowflake Director Frank Slootman Sells 300,000 Shares for $82.3 Million
Snowflake Director Frank Slootman sold 300,000 shares for approximately $82.3 million, reducing his direct ownership by 91% and total equity position by 56%. The sales were executed on July 20 and 21, 2026, at a weighted average price of $274.41 per share, following the exercise of stock options at $8.88 per share under a pre-arranged Rule 10b5-1 trading plan adopted in September 2025. After the transactions, Slootman retains 28,535 shares directly and approximately 208,000 shares indirectly through four family trusts, along with about 4.7 million derivative securities. Snowflake, a cloud data platform provider, has a market capitalization of $94.2 billion and reported trailing twelve-month revenue of $5.0 billion with a net loss of $1.2 billion.
ServiceNow stock jumps on strong revenue as company shrugs off AI disruption fears
ServiceNow shares gained 3% in early trading on Thursday after the company reported quarterly subscription revenue and bookings that topped analyst expectations. Subscription revenue climbed roughly 25% year over year to $3.88 billion last quarter, while current remaining performance obligations, a key metric of near-term bookings, rose 21% to $13.2 billion. Management highlighted that demand for the company's AI products continues to outperform expectations, citing broad customer demand, solid execution, and operating leverage. The results reinforced investor optimism that ServiceNow's artificial intelligence offerings are helping drive growth, even as the software industry faces scrutiny over AI disruption concerns. Shares of software peers including Salesforce, Snowflake, Adobe, and Workday also rose on Thursday, and the Tech-Software Sector ETF edged higher.
Transcend Launches Unlock Partner Program to Speed Enterprise AI Data Decisions
Transcend announced the launch of Transcend Unlock, a partner program designed to help enterprises overcome data governance hurdles that delay AI initiatives. The program brings together technology partners such as Snowflake, Databricks, Adobe, and AWS with global systems integrators and consulting firms to accelerate AI transformations. Transcend reports that 81% of enterprise AI initiatives are delayed or scaled back due to data usability questions, and its platform has automated over 174 billion data decisions to date. Partners gain benefits including a named Partner Manager, lead protection, joint go-to-market support, and early roadmap visibility, with no fee to join.
BreachRx Research Finds Major Cyberattacks Create Hundreds of Simultaneous Reporting Obligations
BreachRx released new research showing that major cyberattacks can generate hundreds of simultaneous reporting obligations across regulators, customers, partners, insurers, and other stakeholders, forcing executives to make decisions before facts are known. The report analyzed five high-impact incidents including Change Healthcare, Snowflake, the Salesforce OAuth campaign, 700Credit, and Salt Typhoon, finding that regulatory concurrency can produce more than 100 reporting obligations inside one organization, over 200 across a small set of affected entities, and another 300-plus when incidents cascade across connected third-party systems. The research identifies five recurring patterns—vertical, horizontal, cascading, definition-driven, and constraint-driven concurrency—and concludes that incident reporting has become a system-scale coordination problem spanning security, legal, privacy, communications, and executive leadership. BreachRx recommends six operating capabilities to manage regulatory concurrency at scale, including real-time obligation mapping, a centralized clock ledger, and decision rationale logging, which are operationalized in its Rex Platform.
CrowdStrike and Snowflake Both Post Strong Revenue Growth but Remain Unprofitable in Fiscal 2026
CrowdStrike and Snowflake each reported robust revenue gains for fiscal 2026, yet both software companies posted net losses for the year. CrowdStrike’s revenue reached nearly $4.8 billion, up about 21.7 percent, while its net loss was roughly $162.5 million, yielding a net margin of approximately negative 3.4 percent. Snowflake’s revenue climbed close to $4.7 billion, an increase of roughly 29.2 percent, but its net loss was approximately $1.3 billion, resulting in a net margin of nearly negative 28.4 percent. Free cash flow stood at nearly $1.3 billion for CrowdStrike and approximately $1.1 billion for Snowflake, though stock-based compensation significantly inflated reported cash generation at both firms. The analysis, which compared the two high-growth cloud-native leaders, concluded that CrowdStrike’s recurring subscription model and steady profitability make it the more compelling AI play for 2026.
Databricks targets $188 billion valuation in Coatue-led funding round
Databricks has signed a term sheet for a strategic funding round that values the company at $188 billion. The round is led by existing investor Coatue and will include additional new and existing investors, with closing expected later this summer. The company plans to use the new capital to accelerate its AI strategy, double down on its Unity AI Gateway multi-AI governance solution, support future AI acquisitions, and deepen AI research. Databricks offers a platform for ingesting, analyzing, and building AI applications using complex data from various sources, competing with Snowflake and widely seen as a public listing candidate alongside OpenAI and Anthropic.
Oracle Stock Falls 33% in a Month as AI-Capex De-Risking Hits Infrastructure Names
Oracle shares have dropped 33% over the past month to $127, extending a selloff driven by broader AI-capex de-risking despite strong cloud fundamentals. Oracle’s Q4 FY2026 revenue reached $19.18 billion with Cloud Infrastructure up 93% year over year, and remaining performance obligations stand at about $638 billion, but free cash flow was negative $23.7 billion on capital expenditures of $55.7 billion. Cloudflare stock gained 19% in the same period on 34% revenue growth to $640 million, though it trades at a steep 60.1 times price-to-book ratio and remains unprofitable on a trailing basis. CoreWeave cratered 38% alongside Oracle, with a net loss widening to $740 million and free cash flow of negative $4.7 billion, while Snowflake rose 15% after raising full-year FY2027 product revenue guidance to $5.84 billion and receiving a KeyBanc price target increase to $325 with an Overweight rating.
Snowflake unveils $448 million pay plan for CEO tied to ambitious stock targets
Snowflake has unveiled a compensation package worth up to roughly $448 million for CEO Sridhar Ramaswamy, contingent on the company's market value nearly doubling to $184 billion within seven years. The award totals 1 million shares and is structured into five tranches with escalating stock price milestones, designed to retain Ramaswamy as CEO until September 15, 2030. The final tranche requires the stock price to reach $531 by July 15, 2033, up from Wednesday's close of $271.87, adding about $100 billion in market capitalization. Ramaswamy must remain CEO through September 15, 2029 for the first two tranches and through September 15, 2030 for the last three to meet service requirements, and the package includes clawback clauses for misconduct or accounting restatements.
Snowflake and Rogo integrate to bring secure AI workflows to financial data
Snowflake has integrated Rogo's managed Model Context Protocol server to enable on-premise AI reasoning over governed data for financial institutions. The collaboration allows AI workflows on highly sensitive proprietary data while preserving existing privacy, access controls, and governance, aiming to reduce the need for custom data pipelines and lower operational friction for regulated clients. This development highlights how Snowflake positions its data platform for heavily regulated sectors, where banks and asset managers seek to apply generative models without moving data outside existing controls. Snowflake shares recently traded at US$275.94, about 5.7% below the analyst price target of US$292.53, and the stock is up 18.5% over the past 30 days.
S&P 500 Could Jump 18% Over the Next Year, Top Growth Stocks to Buy Now
The S&P 500 is predicted to reach almost 8,920 over the coming year, according to FactSet, suggesting a potential 18% increase from current levels. S&P 500 companies' earnings are projected to increase by 23.3% in the current quarter, well above the five-year average of 16.4%, and the index's forward price-to-earnings ratio is now lower than at the beginning of the year. Tech stocks could be top beneficiaries, with the information technology sector's earnings expected to jump 63.3% this quarter. Micron Technology and Advanced Micro Devices are highlighted as top growth stocks, with Micron's earnings forecasted to jump 784% this fiscal year and AMD's by 77% in 2026, both benefiting from AI infrastructure investments. Snowflake is also recommended as an AI software stock, with its earnings poised to grow faster than the S&P 500, supported by a doubling of its total addressable market to $460 billion by fiscal 2031.
Citi names Palantir, Microsoft, Figma as key AI beneficiaries ahead of Q2 software earnings
Citi has identified Palantir, Microsoft, and Figma as key beneficiaries of enterprise AI spending ahead of second-quarter software earnings. The bank sees improved IT spending during the quarter, with incremental budget dollars flowing disproportionately toward AI infrastructure, cloud platforms, and data modernization projects. Within data infrastructure and AI enablement, Citi prefers MongoDB, Snowflake, and Palantir, while it views Microsoft positively among hyperscalers and AI infrastructure providers, and Figma and Shopify within applications software. Citi maintains Buy ratings on all these companies, with price targets of $455 for MongoDB, $320 for Snowflake, $225 for Palantir, $620 for Microsoft, $36 for Figma, and $156 for Shopify. In contrast, Citi names ZoomInfo and Adobe as its least preferred software names heading into the quarter, citing higher execution risk and a push-out in near-term bookings growth.
Snowflake Stock Could Be 12% Undervalued After AI Expansion News
Snowflake's stock could be about 12% undervalued according to a Discounted Cash Flow analysis, which estimates an intrinsic value of roughly $298 per share based on trailing free cash flow of about $1.1 billion. This comes as BofA Securities recently named Snowflake a top U.S. stock idea due to its role in enterprise AI, supporting strong expectations for future cash flows. However, market-based multiples paint a different picture, with the stock trading at a price-to-sales ratio of about 18 times, above both the IT industry average of roughly 1.8 times and a peer group average of about 17.2 times, and well above a tailored fair P/S ratio of 12.6 times. The valuation split leaves the DCF signal as a single supportive data point rather than a clear green light, with the key question being whether enterprise AI and data demand can justify the rich expectations already baked into the stock.
Snowflake Shares Rise After Jim Cramer Calls It a Buy
Snowflake shares have risen 15.9% since Jim Cramer recommended the stock as a buy on Mad Money. The data warehousing firm's stock surged 36% on Thursday after it guided fiscal second-quarter product revenue to between $1.415 billion and $1.420 billion, exceeding the $1.37 billion analyst consensus. Snowflake also announced a partnership with Amazon and beat fiscal first-quarter earnings and revenue estimates. Cramer had previously expressed surprise at the negative market reaction to an earlier quarter, calling CEO Sridhar Ramaswamy terrific and the stock a buy.
Snowflake Gains 6% in a Month: Should You Buy, Sell, or Hold?
Snowflake shares have risen 6.5% in a month, outperforming the broader Zacks Computer & Technology sector's decline of 4.4% and the Internet Software industry's decline of 1.6%. The outperformance is attributed to strong adoption and increasing usage of its platform, reflected by a net revenue retention rate of 126% in the first quarter of fiscal 2027. Snowflake reported 13,912 total customers, adding 616 net new customers, up 38% year over year, including 13 new Forbes Global 2000 customers. The company now has 779 customers spending more than $1 million annually, up 29% year over year, and 64 customers spending more than $10 million annually. Snowflake is benefiting from strategic expansion of its AI reach through deepening partnerships and innovative product launches, with more than 13,600 accounts now leveraging its AI capabilities. In June 2026, Sanofi launched Concierge for Field, an AI agent created with Snowflake Cortex AI, to help sales representatives prepare for physician visits in seconds. The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $1.47 billion, indicating 28.39% year-over-year growth, while the consensus earnings estimate is 45 cents per share, suggesting a 28.57% increase. However, Snowflake faces stiff competition from major players like Oracle and Amazon, which are also expanding their AI footprint, and suffers from variability of consumption as customers optimize spend and AI products carry lower gross margins. Snowflake shares are currently overvalued, trading at a forward 12-month Price/Sales of 13.48X compared with the Internet Software industry's 3.82X, and carry a Zacks Rank of 3, suggesting investors may want to wait for a more favorable entry point.
BofA Names Snowflake Among Top U.S. Stock Ideas For Q3
BofA Securities named Snowflake as one of its top U.S. stock ideas for the third quarter of 2026, citing optimism that accelerated adoption of its AI products and data cloud platform will drive revenue growth. The stock has an average analyst price target of $300, representing a 17.88% upside from its current price of $254.50, with 87% of 52 analysts assigning a Buy rating. Separately, cloud software company Domo announced that automotive retailer Ken Garff Automotive Group is using Domo with Snowflake to modernize its data architecture, securely managing over four billion records of operational data.
Ford leads Bank of America's top 10 U.S. ideas in Quant rankings
Bank of America has unveiled its top 10 U.S. ideas for the third quarter of 2026, with Ford Motor emerging as the highest-rated stock based on Seeking Alpha's Quant Ratings. Ford earned a Strong Buy Quant Rating of 4.87, followed by Knight-Swift Transportation with a Buy rating of 4.12. The remaining eight picks—Visa, Snowflake, Walmart, JPMorgan Chase, IBM, Ionis Pharmaceuticals, Spotify Technology, and Lennar—carry Quant Ratings ranging from 3.45 to 2.62, placing them in the Hold category. The bank's recommendations favor companies with durable earnings growth, attractive industry positioning, and exposure to long-term investment themes despite an uncertain macroeconomic backdrop.
Institutional Buying Offsets Insider Selling in AI Stocks, Analysts See Upside
Institutional buying in NVIDIA, Astera Labs, Snowflake, Datadog, and CoreWeave is offsetting broad insider selling, suggesting share prices may continue rising. Insiders have sold into rallies across these names, but institutions have accumulated shares over the trailing twelve months, with Astera Labs and CoreWeave seeing strong institutional tailwinds into the second quarter of 2026. Analysts remain bullish, with consensus targets pointing to double-digit upside for NVIDIA, Snowflake, and CoreWeave, though Astera Labs and Datadog face near-term correction risks after recent surges left them trading near or above consensus targets. The rapid pace of AI development poses systemic risks, including potential bubbles and disruptive breakthroughs that could unsettle the broader AI trade.
Syncron Expands Integration Capabilities to Connect Aftermarket Intelligence with Enterprise Data Platforms
Syncron announced new integration capabilities enabling manufacturers to connect its aftermarket intelligence with enterprise data platforms including Snowflake, Databricks, and customer-hosted environments. The data exchange capability allows manufacturers to work directly with Syncron's aftermarket data in their analytics environment of choice without duplicating or moving it between systems, reducing integration overhead and costs. Chief Product Officer Daniel Shearly said the move helps customers combine their own data science capabilities with Syncron's aftermarket expertise to improve pricing, inventory, and warranty management. A leading global construction equipment manufacturer is among early adopters using the capabilities to connect its analytics environment to Syncron's inventory replenishment solution. The capabilities are built on Syncron's cloud-native architecture and supported by AWS infrastructure.
Zeta Global shares rise on Snowflake and Palantir partnerships
Zeta Global shares rose 4.7% after the marketing technology company announced strategic partnerships with Snowflake and Palantir Technologies to enhance its enterprise AI capabilities. The collaboration with Snowflake will use its Open Semantic Interchange to standardize marketing data and prevent inaccurate AI-driven insights, while the partnership with Palantir will rebuild Zeta's Data Cloud on Palantir's Foundry platform, a move analysts estimate could eventually add more than $100 million in annual revenue. Zeta's CTO noted the company is focused on customer outcomes over direct revenue growth from the OSI, but expects AI adoption to increase demand for AI-native platforms like Zeta's. The stock closed at $19.83, up 4.7% from the previous close.
Snowflake's Cortex Code Drives Fastest Product Adoption, Lifts Growth Outlook
Snowflake's product revenue growth accelerated to 34% year-over-year, driven by the rapid adoption of its new AI coding assistant Cortex Code, or CoCo. Management raised the full-year growth outlook from 27% to 31%, citing CoCo as the largest driver of the increased forecast. The tool is now in use at more than 7,100 accounts and is seeing the fastest adoption of any new product in the company's history. Executives say CoCo dramatically speeds up development, with one partner building a complex application in just five hours, and it also boosts consumption of Snowflake's core data platform. While new AI products carry lower gross margins, the company plans to maintain its overall 75% product gross margin target for the year through other efficiencies.
S&P 500 Futures Slip as Core PCE Stays at 3.4%, Keeping Fed Cautious
US stock futures are pointing lower with E-mini S&P 500 contracts down about 0.3% and Nasdaq-100 futures weaker by roughly 1.2% as investors weigh solid spending against stubborn inflation. Core PCE inflation sits at 3.4% year over year, while real personal spending grew 0.3% and incomes rose 0.7% in May, suggesting households are still spending. The key question is whether the Federal Reserve will keep rates higher for longer, putting pressure on growth stocks and housing-related sectors. Among top movers, Moderna jumped 12.59% after Piper Sandler raised its price target, ServiceNow climbed 9.85% after being dropped from the Russell Top 50 Index, and Snowflake advanced 9.64% after Russell index changes added it to midcap growth benchmarks. On the losing side, ON Semiconductor fell 23.66% after announcing a roughly US$7 billion all-stock acquisition of Synaptics, Bloom Energy declined 18.49% as multiple Russell index changes shifted the stock between benchmarks, and Western Digital dropped 13.17% following Russell index rebalancing. On the radar, earnings from NIKE and Constellation Brands are due alongside fresh readings on US spending and inflation, with NIKE reporting Q4 results on Tuesday and Constellation Brands posting Q1 results after the market close on Tuesday.
GitLab vs. Snowflake: Which Technology Stock Is a Better Buy in 2026?
The Motley Fool compares GitLab and Snowflake as investment options for 2026, ultimately favoring Snowflake due to its central role in AI data infrastructure. GitLab reported fiscal 2026 revenue of $955.2 million, up 25.8%, with a net loss of nearly $56 million and zero debt, while Snowflake posted $4.7 billion in revenue, up 29.2%, with a net loss of $1.3 billion and a debt-to-equity ratio of 1.4x. Both companies face competitive and legal risks, but Snowflake's higher valuation multiples are offset by its stronger growth and strategic position in the AI ecosystem. The author, who holds both stocks, argues that GitLab is more vulnerable to AI-driven disruption, whereas Snowflake's data platform is essential for AI accuracy, making it the preferred buy.