Snowflake Fourth-Quarter Earnings Report

Snowflake is set to report its fourth-quarter earnings after markets close on Wednesday. The cloud-data firm's potential performance has already generated significant buzz among Wall Street analysts.

Analysts' Views

D.A. Davidson Analysts Increase Price Target

Analysts at D.A. Davidson, Gil Luria, and Alex Platt, have shown optimism by raising their price target on Snowflake stock to $260 from $220. They maintained their Buy rating in a report issued on Monday. The analysts expressed their increased confidence in Snowflake's ability to capitalize on the artificial intelligence revolution and future development in the space.

Jefferies Analysts Identify Growth Potential

Similarly, analysts led by Brent Thill at Jefferies labeled Snowflake as their "top growth story" in a report released on Sunday. They highlighted revenue boosters such as cloud spend acceleration, tailwinds from AI, and new product cycles. Jefferies raised their price target on Snowflake stock to $265 from $230, while also maintaining a Buy rating.

Guggenheim Weighs In

Taking a more balanced approach, Guggenheim analysts led by John DiFucci shared a tempered forecast and potential repercussions in their analysis. They questioned the reaction of investors to slightly below or in-line fiscal 2025 guidance. Guggenheim rates Snowflake stock at Sell with a $120 price target.

Market Performance

Despite the mixed analyst views, consensus estimates for Snowflake's fourth-quarter adjusted earnings per share stand at 18 cents on sales of $761 million, according to FactSet data. Year-to-date, Snowflake shares have risen approximately 15%, outperforming the S&P 500 index's 7% increase.

For more information, stay tuned for Snowflake's upcoming earnings report and market reactions.