Last updated: July 13, 2026 · ← Back to Stock Fact Sheets
NYSE: SNOW
Snowflake Inc.
AI Data Cloud · Menlo Park, CA · Founded 2012Live price: Yahoo Finance →
Data as of July 13, 2026
Q1 FY27 revenue
$1.39BRevenue growth
+33% YoYProduct revenue
$1.33BProduct rev. growth
+34% YoYNet revenue retention
126%RPO
$9.21BNon-GAAP EPS
$0.39FY27 product rev. guide
$5.84BProduct revenue: recent quarters & guide ($B)
Full-year product revenue: actual vs. guide ($B)
Company snapshot
| Market cap | ~$92B |
| 52-week range | $118.30 – $284.99 |
| GAAP profitability | Not yet profitable |
| Customers >$1M TTM product rev. | 779 (+29% YoY) |
| Forbes Global 2000 customers | 813 |
| Non-GAAP operating margin guide | 13.5% (was 12.5%) |
| Adj. free cash flow margin guide | 23.0% |
| Next earnings (Q2 FY27) | Aug 26, 2026 |
Leadership & AI pipeline
| CEO | Sridhar Ramaswamy |
| CEO since | Feb 2024 (succ. Frank Slootman) |
| CRO transition | 2025 |
| Cortex Code accounts | 7,100+ |
| Accounts using AI features | 13,600+ |
| OpenAI collaboration | ~$200M enterprise AI deal |
| Natoma Labs acquisition | ~$110M (agentic MCP platform) |
Analyst price targets
Scotiabank
$320
Raised from $285
Truist
$300
Raised from $275
Street average
$293.53
Moderate Buy
52-wk high (actual)
$284.99
Trailing price
↗ Bull case
- Product revenue growth reaccelerated to 34% YoY, strongest sequential dollar gain in company history
- RPO growing faster than revenue (+38% vs. +33%) — a swelling contracted backlog
- NRR holding at 126% — existing customers still expanding usage
- Full-year guide raised on both revenue and margins after Q1 beat
- Cortex AI adoption scaling fast — 13,600+ accounts using AI features
- OpenAI collaboration and Natoma Labs (agentic MCP) deal extend the AI roadmap
- Multiple sell-side target hikes (Truist $300, Scotiabank $320) post-earnings
↘ Bear case
- Still GAAP unprofitable, with a heavy stock-based compensation load
- Valuation remains rich relative to a company still posting net losses
- Director Frank Slootman’s insider sale of ~537K shares is a sentiment overhang
- Consumption-based model ties growth to enterprise IT budget cycles
- Competition intensifying from Databricks and hyperscaler-native data platforms
- High-beta stock, prone to sharp swings around earnings and macro headlines
- Broad risk-off events (rate shocks, geopolitical flare-ups) hit richly-valued software names hardest
For informational purposes only. Not investment advice. Financials from Q1 FY2027 earnings (May 27, 2026, quarter ended April 30, 2026). Price data not shown — check live quote.
Snowflake Inc. (SNOW) — Company Overview
Snowflake Inc. (NYSE: SNOW) operates the AI Data Cloud, a cloud-native platform that lets enterprises consolidate data into a single source of truth, build data applications, and increasingly deploy AI agents and models against that data. Headquartered in Menlo Park, California, and founded in 2012, Snowflake went public in 2020 in what was then the largest software IPO in history. Sridhar Ramaswamy has led the company as CEO since February 2024, succeeding founder-era leader Frank Slootman, who remains on the board. The company has also gone through a sales leadership transition, with a new Chief Revenue Officer taking over in 2025 as Snowflake leans further into consumption-based, AI-driven growth.
Q1 FY2027 Earnings: The Numbers
Snowflake reported Q1 FY2027 results on May 27, 2026, for the quarter ended April 30, 2026. Total revenue came in at $1.39 billion, up 33% year-over-year, while product revenue — the company’s core consumption metric — reached $1.33 billion, up 34% year-over-year and described by management as the strongest sequential dollar growth in the company’s history. Non-GAAP EPS of $0.39 beat consensus estimates of roughly $0.32. Net revenue retention held at 126%, meaning existing customers spent 26% more than a year earlier. Remaining performance obligations rose 38% year-over-year to $9.21 billion, outpacing revenue growth — a signal that customers are signing larger, longer-duration contracts. Customers with more than $1 million in trailing 12-month product revenue grew 29% year-over-year to 779, and Snowflake now counts 813 Forbes Global 2000 companies among its customer base.
Guidance Raised — Twice Over
Alongside the beat, Snowflake raised its full-year FY2027 product revenue guidance to $5.84 billion (31% implied growth), up from prior guidance of $5.66 billion (27% growth). Profitability targets improved as well: non-GAAP operating margin guidance was lifted to 13.5% from 12.5%, and the company guided to a 23.0% non-GAAP adjusted free cash flow margin for the year. For the second quarter of FY2027, Snowflake guided product revenue of $1.415–$1.42 billion, implying roughly 30% year-over-year growth. Combined, the raises suggest management sees durable demand even as it works toward sustained GAAP profitability.
Cortex AI and the Agentic Push
- Cortex Code, Snowflake’s AI coding and agent-building tool, is now live in more than 7,100 customer accounts.
- More than 13,600 accounts are actively using Snowflake’s AI features across the platform.
- Snowflake has an active collaboration with OpenAI valued at roughly $200 million, aimed at building joint enterprise AI solutions.
- In May 2026, Snowflake agreed to acquire Natoma Labs, an enterprise Model Context Protocol (MCP) platform for AI agents, for approximately $110 million in a deal expected to close in mid-2026.
The throughline across these moves is Snowflake’s attempt to position itself not just as a data warehouse, but as the operating layer where enterprise AI agents actually run — competing directly with Databricks and the AI tooling being built natively into the major hyperscaler clouds.
Analyst Reaction
Sell-side reaction to the Q1 print was broadly positive. Scotiabank raised its price target to $320 from $285, and Truist lifted its target to $300 from $275, both citing the reaccelerating product revenue growth and the raised full-year guide. The Street’s average price target sits around $293.53, with a consensus “Moderate Buy” rating. Not every signal has been bullish, however — director Frank Slootman’s sale of roughly 537,000 shares drew some attention as a near-term sentiment overhang, even as institutional buying elsewhere in the stock has picked up.
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This fact sheet is for informational purposes only and does not constitute investment advice. Data as of July 13, 2026.
