Snowflake Inc (NYSE:SNOW) posted better-than-expected financial results for the fourth quarter of fiscal 2026 after the close on Wednesday.
Snowflake reported fourth-quarter revenue of $1.28 billion, beating analyst estimates of $1.26 billion, according to Benzinga Pro. The company reported adjusted earnings of 34 cents per share for the quarter, beating analyst estimates of 27 cents per share.
“This past year has been transformative for every business, as the promise of AI became real, and Snowflake sits at the center of the enterprise AI revolution,” said Sridhar Ramaswamy, CEO of Snowflake.
Snowflake expects first-quarter product revenue in the range of $1.26 billion to $1.27 billion, up approximately 27% year-over-year. The company noted that it expects adjusted operating margin of 9% in the first quarter and 12.5% for the full year.
Snowflake shares gained 3.5% to $175.18 in pre-market trading.
These analysts made changes to their price targets on Snowflake following earnings announcement.
- Piper Sandler analyst Rob Owens maintained Snowflake with an Overweight rating and lowered the price target from $285 to $230.
- Needham analyst Mike Cikos maintained the stock with a Buy and lowered the price target from $280 to $200.
- Truist Securities analyst Miller Jump maintained Snowflake with a Buy and cut the price target from $270 to $240.
Considering buying SNOW stock? Here’s what analysts think:
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