Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing SNOW more generously than it does today.
Analysis OverviewBuyUpdated May 1, 2026
Snowflake Inc. (SNOW) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
50
analysts
39 bullish · 1 bearish · 50 covering SNOW
Strong Buy
0
Buy
39
Hold
10
Sell
1
Strong Sell
0
Consensus Target
$235
+68.0% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
50
Published analyst ratings
Valuation Context
78.0x
Forward P/E · Market cap $47.9B
SNOW price targets
Three scenarios for where SNOW stock could go
Current
~$140
Confidence
57 / 100
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Snowflake Inc.
SNOW · NYSETechnologySoftware - ApplicationJanuary year-end
Snowflake provides a cloud-native data platform that enables organizations to store, process, and analyze data across multiple cloud providers. It generates revenue primarily through consumption-based pricing for compute, storage, and data transfer services — with compute typically representing the largest portion. Its key advantage is a unique architecture that separates storage and compute, allowing customers to scale each independently while avoiding vendor lock-in through multi-cloud compatibility.
Market Cap
$47.9B
Revenue TTM
$4.7B
Net Income TTM
-$1.3B
Net Margin
-28.4%
SNOW Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
92%Exceptional
12 quarters tracked
Revenue Beat Rate
100%Exceptional
vs consensus estimates
Avg EPS Surprise
+55.9%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 4 of 4Q2 2025
EPS
$0.24/$0.21
Revenue
$1.0B/$1.0B
Q3 2025
EPS
$0.35/$0.27
Revenue
$1.1B/$1.1B
Q4 2025
EPS
$0.35/$0.31
Revenue
$1.2B/$1.2B
Q1 2026
EPS
$0.32/$0.27
Revenue
$1.3B/$1.3B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.24/$0.21 | +13.0% | $1.0B/$1.0B | +3.6% |
| Q3 2025 | $0.35/$0.27 | +31.1% | $1.1B/$1.1B | +5.2% |
| Q4 2025 | $0.35/$0.31 | +12.3% | $1.2B/$1.2B | +2.4% |
| Q1 2026 | $0.32/$0.27 | +17.4% | $1.3B/$1.3B | +2.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$6.0B
+29.1% YoY
FY2
$7.9B
+30.4% YoY
EPS Outlook
FY1
$-0.59
+84.7% YoY
FY2
$-1.99
-235.6% YoY
Trailing FCF (TTM)$1.1B
FCF Margin: 23.9%
Next Earnings
May 27, 2026
Expected EPS
$0.32
Expected Revenue
$1.3B
SNOW beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
SNOW Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $3.6B
Product Mix
Latest annual revenue by segment or product family
Product
95.5%
+29.8% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
79.0%
+27.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Product is the largest disclosed segment at 95.5% of FY 2025 revenue, up 29.8% YoY.
UNITED STATES is the largest reported region at 79.0%, up 27.9% YoY.
SNOW Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Undervalued
Fair value est. $166 — implies +17.9% from today's price.
Upside to Fair Value
17.9%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SNOW
-35.4x
vs
S&P 500
25.2x
240% discount
vs Technology Trailing P/E
SNOW
-35.4x
vs
Technology
27.5x
229% discount
vs SNOW 5Y Avg P/E
Today
-35.4x
vs
5Y Average
—
Benchmark unavailable
Forward PE
78.0x
S&P 500
19.1x
+309%
Technology
21.7x
+260%
5Y Avg
—
—
Trailing PE
-35.4x
S&P 500
25.2x
-240%
Technology
27.5x
-229%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.75x
—
Technology
1.47x
—
5Y Avg
—
—
EV/EBITDA
—
S&P 500
15.3x
—
Technology
17.4x
—
5Y Avg
—
—
Price/FCF
42.7x
S&P 500
21.3x
+100%
Technology
19.8x
+116%
5Y Avg
76.7x
-44%
Price/Sales
10.2x
S&P 500
3.1x
+226%
Technology
2.4x
+323%
5Y Avg
19.4x
-47%
Dividend Yield
—
S&P 500
1.88%
—
Technology
1.18%
—
5Y Avg
—
—
| Metric | SNOW | S&P 500 | Technology | 5Y Avg SNOW |
|---|---|---|---|---|
| Forward PE | 78.0x | 19.1x+309% | 21.7x+260% | — |
| Trailing PE | -35.4x | 25.2x-240% | 27.5x-229% | — |
| PEG Ratio | — | 1.75x | 1.47x | — |
| EV/EBITDA | — | 15.3x | 17.4x | — |
| Price/FCF | 42.7x | 21.3x+100% | 19.8x+116% | 76.7x-44% |
| Price/Sales | 10.2x | 3.1x+226% | 2.4x+323% | 19.4x-47% |
| Dividend Yield | — | 1.88% | 1.18% | — |
SNOW trades above S&P 500 benchmarks on 3 of 4 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSNOW Financial Health
Verdict
Stressed
SNOW generates $1.1B in free cash flow at a 23.9% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$4.7B
Revenue Growth
TTM vs prior year
+29.2%
Gross Margin
Gross profit as a share of revenue
67.2%
Operating Margin
Operating income divided by revenue
-30.6%
Net Margin
Net income divided by revenue
-28.4%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-3.89
Free Cash Flow (TTM)
Cash generation after capex
$1.1B
FCF Margin
FCF as share of revenue — the primary cash quality signal
23.9%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-43.1%
ROA
Return on assets, trailing twelve months
-14.6%
Cash & Equivalents
Liquid assets on the balance sheet
$2.8B
Net Cash
Cash exceeds total debt — no net leverage
$87M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE *
Return on equity, trailing twelve months
-65.9%
* Elevated by buyback-compressed equity — compare ROIC (-43.1%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.2%
Dividend
—
Buyback
0.2%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$88M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
337M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt). ROE marked * where buyback-compressed equity base may inflate the figure.
Open full ratios pageSNOW Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Tech & Competition
Advanced AI models and agentic workflows threaten Snowflake's data‑warehousing moat. Competitors such as Anthropic and OpenAI are developing AI agents that can perform data orchestration natively, potentially eroding Snowflake's pricing power. Major cloud providers—Amazon, Microsoft, and Google—are heavily investing in their own cloud data platforms, increasing competitive pressure.
High Risk
Legal & Regulatory
Snowflake is facing multiple class‑action lawsuits alleging failure to disclose material headwinds related to product efficiency gains, tiered storage pricing, and the adoption of technologies like Iceberg Tables. Investors claim these omissions led to significant stock declines when the truth emerged, and the adequacy of risk disclosures is under scrutiny.
High Risk
Valuation & Growth
Despite recent price declines, Snowflake's valuation remains high relative to mature software peers, with a significant premium even after drops. Revenue growth projections are uncertain, and concerns remain about the pace of profitability and the ability to meet ambitious growth targets. Some analyses suggest the stock may be overvalued.
Medium
Operational & Financial
Historical revenue growth may not indicate future performance; growth could slow due to various factors. The stock price is subject to volatility influenced by market and industry fluctuations and general economic conditions. Concerns about stock‑based compensation exist, though the company expects to reduce it as a percentage of revenue.
Medium
Insider Selling
Insider sentiment is currently negative, driven by significant open‑market selling from key executives. This could signal management’s lack of confidence in the company’s prospects.
Medium
Macroeconomic Factors
A slowing U.S. economy, persistent inflation, and rising bond yields can dampen enthusiasm for growth‑oriented stocks like Snowflake. Risk‑off sentiment among investors due to challenging economic backdrops can negatively impact the stock price.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SNOW Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Robust Revenue Growth & Profitability
Snowflake’s product revenue grew 30% year‑over‑year in Q4 FY26 to $1.23 billion, and full‑year product revenue reached $4.72 billion. Non‑GAAP operating margins hit 11.1% in Q2, up 6.1% YoY, while net revenue retention stayed strong at 125%.
Strong Future Demand via RPO
Remaining Performance Obligations (RPO) increased 42% YoY to $9.77 billion, indicating a solid pipeline of future contracted revenue and continued demand for Snowflake’s services.
AI Data Cloud Leadership & Cortex Adoption
Snowflake is positioned as a leader in the AI Data Cloud, with its Cortex AI suite already in use by over 9,100 accounts, underscoring its critical role in enterprise AI model development and deployment.
Customer Acquisition Momentum
The company added 740 net new customers in its strongest quarter, a 40% YoY increase, and now serves 790 Forbes Global 2000 customers, with a record number of customers exceeding $10 million in annual revenue.
Expanding Total Addressable Market
Snowflake estimates its TAM will more than double from $170 billion in 2024 to $355 billion by 2029, driven by AI and data analytics growth.
Scalable Architecture & Open Standards
Snowflake’s architecture separates compute from storage, enabling scalability and cost efficiency, and its open architecture supports standards like Apache Iceberg, expanding workload diversity.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SNOW Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$139.74
52W Range Position
13%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$118.30
+18.1% from the low
52-Week High
$280.67
-50.2% from the high
1 Month
-6.45%
3 Month
-17.03%
YTD
-35.5%
1 Year
-17.0%
3Y CAGR
-4.5%
5Y CAGR
-6.9%
10Y CAGR
-5.8%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SNOW vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
78.0x
vs 30.2x median
+158% above peer median
Revenue Growth
+29.1%
vs +20.5% median
+42% above peer median
Net Margin
-28.4%
vs -2.9% median
-884% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SNO SNOW Snowflake Inc. | $47.9B | 78.0x | +29.1% | -28.4% | Buy | +68.0% |
DDO DDOG Datadog, Inc. | $46.8B | 67.0x | +23.6% | 3.1% | Buy | +21.5% |
MDB MDB MongoDB, Inc. | $21.6B | 45.0x | +20.5% | -2.9% | Buy | +55.8% |
EST ESTC Elastic N.V. | $5.2B | 19.4x | +11.8% | -5.0% | Buy | +71.8% |
DBX DBX Dropbox, Inc. | $8.0B | 8.3x | +3.5% | 20.2% | Buy | +7.3% |
GTL GTLB GitLab Inc. | $4.0B | 30.2x | +24.1% | -5.8% | Buy | +48.7% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
SNOW Dividend and Capital Return
SNOW returns 0.2% annually — null% through dividends and 0.2% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.2%
Dividend + buyback return per year
Buyback Yield
0.2%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$88M
Estimated Shares Retired
630.6K
Approx. Share Reduction
0.2%
Shares Outstanding
Current diluted share count from the screening snapshot
337M
FAQ
7 questionsSNOW Investor Questions
Common questions answered from live analyst data and company financials.
01Is Snowflake Inc. (SNOW) stock a buy or sell in 2026?
Snowflake Inc. (SNOW) is rated Buy by Wall Street analysts as of 2026. Of 50 analysts covering the stock, 39 rate it Buy or Strong Buy, 10 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $235, implying +68.0% from the current price of $140.
02What is the SNOW stock price target for 2026?
The Wall Street consensus price target for SNOW is $235 based on 50 analyst estimates. The high-end target is $300 (+114.7% from today), and the low-end target is $125 (-10.5%).
03Is Snowflake Inc. (SNOW) stock overvalued in 2026?
SNOW trades at 78.0x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Snowflake Inc. (SNOW) stock in 2026?
The primary risks for SNOW in 2026 are: (1) Tech & Competition — Advanced AI models and agentic workflows threaten Snowflake's data‑warehousing moat. (2) Legal & Regulatory — Snowflake is facing multiple class‑action lawsuits alleging failure to disclose material headwinds related to product efficiency gains, tiered storage pricing, and the adoption of technologies like Iceberg Tables. (3) Valuation & Growth — Despite recent price declines, Snowflake's valuation remains high relative to mature software peers, with a significant premium even after drops. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Snowflake Inc.'s revenue and earnings forecast?
Analyst consensus estimates SNOW will report consensus revenue of $6.0B (+29.1% year-over-year) and EPS of $-0.59 (+84.7% year-over-year) for the upcoming fiscal year. The following year, analysts project $7.9B in revenue.
06When does Snowflake Inc. (SNOW) report its next earnings?
Snowflake Inc. is expected to report its next earnings on approximately 2026-05-27. Consensus expects EPS of $0.32 and revenue of $1.3B. Over recent quarters, SNOW has beaten EPS estimates 92% of the time.
07How much free cash flow does Snowflake Inc. generate?
Snowflake Inc. (SNOW) generated $1.1B in free cash flow over the trailing twelve months — a free cash flow margin of 23.9%. SNOW returns capital to shareholders through and share repurchases ($88M TTM).