Nucor earnings beat by $0.08, revenue fell short of estimates
On Thursday, Monness Crespi Hardt maintained a positive outlook on Snowflake Inc . (NYSE: NYSE:SNOW), raising the 12-month price target from $230.00 to $245.00 while reiterating a Buy rating. With the stock currently trading at $179.12, analyst targets range from $115 to $440, reflecting diverse market perspectives. The adjustment follows Snowflake’s robust performance in the first quarter of fiscal year 2026, as well as a promising forecast for the second quarter and an increase in the full year’s product revenue guidance. According to InvestingPro analysis, the stock appears fairly valued based on its proprietary Fair Value model.
Snowflake’s recent financial disclosures revealed a strong start to the fiscal year, with the company surpassing expectations. With revenue growth of 29.2% over the last twelve months and a healthy gross profit margin of 66.7%, the company demonstrates robust operational execution. The company’s management also provided an encouraging outlook for the upcoming quarter and raised its product revenue projections for the entire fiscal year. This performance has led analysts at Monness Crespi Hardt to revise their fiscal year 2026 estimates, which includes an increase in revenue expectations and a decrease in EPS projections.
The revised price target comes ahead of Snowflake’s planned Snowflake Summit, which is scheduled from June 2-5. A key event, the Investor Day, will be held on June 3, potentially offering further insights into the company’s strategy and growth prospects.
The analyst report highlighted Snowflake’s strong positioning to leverage new innovations and capitalize on ongoing technological trends. Despite acknowledging the dynamic competition, the ongoing software industry transition, and the challenging macroeconomic environment, the firm’s analysts maintain confidence in Snowflake’s potential. InvestingPro data reveals the company operates with moderate debt levels and maintains strong liquidity, with current assets exceeding short-term obligations. For deeper insights, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
Snowflake’s stock movement in the coming days may reflect the market’s reception of the updated price target and the company’s recent performance. Investors and stakeholders will likely watch closely as Snowflake approaches its Investor Day for any new developments that might influence the company’s trajectory.
In other recent news, Snowflake Inc. has reported impressive first-quarter financial results, with product revenue surpassing estimates by 4%, according to both Stifel and Loop Capital. The company’s newer products, such as Snowpark and Dynamic Tables, have contributed to this outperformance, showing resilience against broader economic conditions. Analysts from Stifel have raised their price target for Snowflake to $220, maintaining a Buy rating, while Loop Capital also increased their target to $220, citing better-than-expected profitability and strong guidance for the fiscal year. Cantor Fitzgerald has taken an even more optimistic stance, raising the price target to $242 and maintaining an Overweight rating, driven by Snowflake’s consistent ability to exceed financial forecasts.
Needham analysts have also adjusted their price target to $230, highlighting Snowflake’s strong quarter and strategic investments in personnel that are expected to drive future growth. Meanwhile, Raymond (NSE:RYMD) James has increased their target to $212, noting the positive impact of Snowflake’s AI tools, such as Cortex, on the company’s momentum. Despite potential macroeconomic risks, Raymond James remains optimistic about Snowflake’s performance, as the company has yet to see a decline in demand. Overall, these developments reflect a positive outlook from multiple analyst firms on Snowflake’s financial health and growth prospects.
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