Snowflake Beats Q2 Estimates, Raises Guidance as Eight Firms Lift Targets

EarningsAnalyst Impact 4
โดย Insider Monkey·US·Read original
Summary · why it matters

Snowflake Inc. reported second-quarter fiscal 2027 results on September 2, 2026, for the period ended July 31, 2026, with revenue rising 35% to $1.55 billion against a $1.48 billion consensus and adjusted earnings of $0.62 per share versus the $0.45 analysts expected. Product revenue grew 37% to $1.49 billion, and management raised full-year product revenue guidance to $6.07 billion from $5.84 billion, sending shares up more than 20% in extended trading. Within 48 hours, eight firms raised their price targets, including Argus analyst Joseph Bonner to $450 from $300, Goldman Sachs to $436 from $300, JPMorgan to $426 from $285, Raymond James analyst Adam Tindle to $425 from $275, and RBC Capital to $440 from $372, with TD Cowen and Monness Crespi both moving to $450 and Truist to $425. Net revenue retention held at 126%, remaining performance obligations reached $9.00 billion on 30% growth, and the company added 692 net new customers, while CEO Sridhar Ramaswamy said AI products drove roughly half of the acceleration. The stock trades at 166.67 times forward earnings as of September 15, 2026, against Datadog at 76.92 and MongoDB at 62.89, after gaining more than 45% this year, even as the quarter produced a GAAP operating loss of $263.0 million, a negative 17.0% margin, and free cash flow of $83.8 million on a 5.4% margin.

Impact on stocks 9

Financials▲ · 4 stocks
Cloud & Digital Infrastructure▲ · 3 stocks
Snowflake Inc.
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Snowflake beat Q2 estimates with 35% revenue growth and raised full-year product revenue guidance, prompting eight firms to lift price targets.

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Theme Impact 2

Off-coverage companies 1

Monness, Crespi, Hardt & Co.Private± Mixed
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Snowflake Inc. is drawing heightened investor attention after Zacks Investment Research highlighted sharply rising earnings estimates for the data-warehousing company. For the current quarter, Snowflake is expected to post earnings of $0.60 per share, a change of +71.4% from the year-ago quarter, while the Zacks Consensus Estimate has moved +17.5% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $2.19 points to a change of +75.2% from the prior year, and for the next fiscal year the consensus estimate of $2.84 indicates a change of +29.6%. On revenue, the consensus sales estimate for the current quarter of $1.64 billion indicates a year-over-year change of +35.5%, with current and next fiscal year estimates of $6.29 billion and $8 billion pointing to changes of +34.2% and +27.3%, respectively. In its last reported quarter, Snowflake posted revenues of $1.55 billion, a year-over-year change of +35.1%, and EPS of $0.62 versus $0.35 a year ago, beating the Zacks Consensus revenue estimate of $1.47 billion by +4.91% and the EPS estimate by +37.78%. Citing the size of the recent change in the consensus estimate along with three other earnings-related factors, Zacks rates Snowflake Zacks Rank #2 (Buy), though the stock carries a Zacks Value Style Score of F, indicating it trades at a premium to its peers.
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