Analysts revamp stock price targets for Microsoft's key AI partner
Here’s what could be next for the stock.
Snowflakes can turn into snowballs.
On Feb. 27, Snowflake (SNOW) shares surged 9% in morning trading, then narrowed its gain to 4.5%. The market move followed the data-storage and -analytics software company's report of stronger-than-expected fiscal-fourth-quarter earnings.
For the period ended Jan. 31 the company on Feb. 26 posted adjusted earnings of 30 cents a share on revenue of $987 million, exceeding analysts' expectations of 17 cents and $956 million, according to LSEG's data.
In guiding analysts and investors, the Bozeman, Mont., company projects fiscal 2026 first-quarter product revenue between $955 million and $961 million. At the top end, the projection meets the StreetAccount estimate of $961 million.
Snowflake has been ramping up its artificial-intelligence offerings to keep up with the growing competition in developing advanced large language models and AI-driven solutions.
