****Snowflake FY2027 product revenue guidance $5.89B (27% YoY); valuation/leadership/Investor Day check** [developing]** [developing]
Key Questions
What is Snowflake's FY2027 product revenue guidance?
Snowflake guided for FY2027 product revenue of $5.89 billion, representing 27% year-over-year growth. This follows strong Q1 FY27 results with $997 million in product revenue, up 26% YoY and accelerating to 30% in the latest period.
How did Snowflake perform in Q1 FY27?
Snowflake reported Q1 FY27 product revenue of $997 million, up 26% YoY, with guidance for the next quarter at over $1.26 billion, also up 27% YoY. Key metrics included RPO of $6.7 billion (+34% YoY), 606 customers spending $1M+ (+27% YoY), 125% NRR, and a $400 million deal.
What is Snowflake's current stock price performance?
Snowflake's stock is trading at $149, flat recently but down 30% YTD and 15.9% monthly, trading below its moving averages and considered oversold. Despite this, it remains a most-watched stock with investor attention.
Why did Mizuho cut its price target for Snowflake?
Mizuho cut its price target following the exit of Snowflake's CRO, citing potential sales risks. This reflects concerns over leadership changes impacting sales execution amid a premium valuation.
What is the analyst consensus on Snowflake stock?
Analysts rate Snowflake as a Moderate Buy with an average price target of $249; Benchmark has a $190 target, Canaccord maintains Buy at $220. Zacks ranks it #3 Hold due to premium valuation, but AI initiatives like Cortex are seen as potential re-rating catalysts.
What recent institutional and insider activity has occurred with Snowflake shares?
Robinhood Asset Management took a new $6.35 million stake, while Rheos sold 76k shares. Insiders including Speiser and SVP Vivek Raghunathan sold shares, with Raghunathan selling 3,876 shares for $592k under a 10b5-1 plan; filings show very negative sentiment.
What was highlighted at Snowflake's Investor Day?
At Investor Day, Snowflake outlined a path to $10 billion in revenue by 2029. This long-term target underscores confidence in growth from AI, data cloud, and expansions like the Cortex AI Suite amid exponential enterprise AI adoption.
Is Snowflake considered a good investment now?
Snowflake trades at a premium valuation with Zacks #3 Hold rating, but analysts maintain Moderate Buy consensus. Strong metrics like RPO growth and AI potential suggest upside, though sales risks and insider selling warrant caution; it's listed among strong buy AI stocks.
Q1 FY27 $997M prod rev +26% (latest accel to 30% YoY)/guidance $1.26B+ +27%/RPO $6.7B +34%/606 $1M+ +27%/125% NRR/$400M deal; CRO exit prompts Mizuho PT cut on sales risks; stock $149 flat/-30% YTD/-15.9% monthly/below MAs oversold; Zacks #3 Hold amid premium valuation; PT avg $249 Moderate Buy/Benchmark $190; new Robinhood Asset Mgmt $6.35M stake; Rheos sells 76k shares/insider sells incl Speiser; Investor Day $10B 2029.