Snowflake rises after lifting FY26 product revenue forecast

ReutersMay 22, 2025 1:27 PM

Shares of cloud company Snowflake SNOW.N rise 8.5% premarket to $194.17 after co raises FY26 product revenue forecast

SNOW beats Q1 results estimates, as per data compiled by LSEG

Co's Q2 product revenue forecast also higher than estimates

At least 10 brokerages raise PT including JP Morgan and Barclays

Needham says SNOW provides "material customer value" as a cloud-based data warehouse, and is pursuing meaningful expansion

Truist says co has a unique technology advantage in data cloud

36 out of 47 analysts rate stock as "buy" or higher, 10 "hold" and one "sell"; median PT is $220 - LSEG

As of last close, SNOW up 16% YTD, compared with Dow Jones US Technology sector index's .DJUSTC decline of 3.1%

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