Snowflake (SNOW) Stock News

Needham maintained its price target for Snowflake at $450.00 per share.

Snowflake Up Over 6%, on Track for Highest Close Since Dec 2021.

Snowflake stock fell 3.5% Monday after announcing a $3.5 billion convertible note offering split into two tranches. The decline stems from dilution concerns. The company recently beat Q2 estimates and raised guidance on AI product demand.

Snowflake plans a $3.5 billion convertible senior note offering split into $1.3 billion due 2029 and $2.2 billion due 2031, with no regular interest. Proceeds will fund capped-call anti-dilution transactions, repurchase of existing 2027 notes, and general corporate purposes. Shares fell 3.6% in premarket trading to $324.

HSBC lifts Snowflake price target to $470 from $289.

Snowflake reported a broad earnings beat and strong guidance, with product revenue growth implied at ~37% next quarter. CEO reiterated GAAP profitability target for Q4 FY28. Shares up over 20%.

JPMorgan raised its Snowflake price target to $426 from $285. The previous target was $285.

CrowdStrike announced partnerships with Google and Snowflake at its flagship conference today. No details on the scope or financial terms have been released. The claim is unverified.

Jefferies raised its price target on Snowflake to $385 from $310. The previous target was $310. No additional details were provided.