Overview

• AI Data Cloud firm's fiscal Q4 product revenue grew 30% yr/yr

• Company added 740 net new customers, up 40% yr/yr

• Remaining performance obligations rose 42% yr/yr to $9.77 bln

Outlook

• Snowflake expects first-quarter product revenue between $1.262 bln and $1.267 bln

• Company sees full-year fiscal 2027 product revenue at $5.66 bln

Result Drivers

• CUSTOMER EXPANSION - Snowflake added 740 net new customers, representing a 40% year-over-year increase, and deepened engagement with existing customers

Company press release: ID:nBwblJPwca

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 43 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the it services & consulting peer group is "buy"

• Wall Street's median 12-month price target for Snowflake Inc is $270.00, about 67.6% above its February 24 closing price of $161.06

• The stock recently traded at 104 times the next 12-month earnings vs. a P/E of 180 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)