Snowflake stock rating reiterated at Market Outperform by JMP

Investing.com - JMP Securities has reiterated its Market Outperform rating on Snowflake Inc. (NYSE:SNOW) with a price target of $260.00 ahead of the company’s fiscal second-quarter earnings report. According to InvestingPro data, the stock is currently trading at $194.68, with analysts’ targets ranging from $150 to $440.

The data cloud company, currently valued at $65.1 billion, is scheduled to release its quarterly results on Wednesday after market close, according to JMP’s research note issued Tuesday. While not currently profitable, InvestingPro analysis indicates analysts expect the company to turn profitable this year.

JMP’s analysis included 27 data points on Snowflake, with 85% showing positive indicators this quarter, a significant improvement from 50% positive indicators in the previous quarter.

The firm’s decision comes as Snowflake stock has gained 26% year-to-date, outperforming both the S&P 500 and Russell 3000 indices, which have each increased by 9% during the same period.

JMP also referenced a recent MIT Networked Agents and Decentralized AI initiative report titled "State of AI in Business 2025," which found that only 5% of integrated AI pilots are generating millions in value, while most implementations show no measurable profit and loss impact. For a comprehensive earnings preview and detailed financial analysis, access the full Pro Research Report available on InvestingPro.

In other recent news, Snowflake Inc . is set to release its second-quarter fiscal 2026 earnings report, with several analyst firms reiterating their ratings and price targets. DA Davidson has maintained its Buy rating and set a price target of $250, citing strong momentum in Snowflake’s core data warehouse offerings and AI/ML products. Similarly, TD Cowen has also reiterated a Buy rating with a $240 price target, highlighting stability in core consumption and emerging momentum with Cortex AI. KeyBanc Capital Markets supports an Overweight rating and a $250 target, noting positive developments in data warehouse migration and data engineering adoption. JMP Securities has expressed confidence with a Market Outperform rating and a $260 price target, based on positive industry feedback. Guggenheim, however, maintains a Neutral rating, acknowledging solid field checks but suggesting that surpassing consensus expectations may be challenging. These insights provide a glimpse into the analysts’ perspectives ahead of Snowflake’s upcoming earnings announcement.

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