Snowflake (NYSE:SNOW) Stock Price Down 11.8% – Should You Sell?

11 Apr 2026, 14:44 by Sarita Garza · The Markets Daily

Snowflake Inc. (NYSE:SNOW – Get Free Report) shares fell 11.8% during trading on Thursday . The company traded as low as $131.18 and last traded at $132.33. 15,379,223 shares changed hands during trading, an increase of 152% from the average session volume of 6,103,412 shares. The stock had previously closed at $149.99.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

Positive Sentiment: Product/strategy update: Snowflake expanded its open‑data strategy by adding Iceberg V3 support and a governance/portability plan — a technical move that strengthens Snowflake’s data interoperability and enterprise appeal. SiliconANGLE article
Positive Sentiment: Buy thesis from long‑term investors: commentary pieces argue SNOW may be oversold and present a dip‑buy opportunity given its consumption-based revenue model and AI demand tailwinds. These views can support longer‑term recovery narratives. Seeking Alpha article
Neutral Sentiment: Market attention: SNOW is among several names highlighted in daily market roundups of AI and cloud names moving today; such coverage increases short‑term volatility but is informational rather than company‑specific. MSN roundup
Negative Sentiment: Multiple class‑action and investor notices: several law firms (Rosen, Bronstein Gewirtz & Grossman, Faruqi & Faruqi, Pomerantz, Schall, Bernstein Liebhard, etc.) have filed or are soliciting lead‑plaintiff claims covering purchases from June 27, 2023 to Feb 28, 2024 and are urging investors to act before an April 27, 2026 deadline — adding legal overhang and headline risk. Rosen Law Firm notice Bronstein notice
Negative Sentiment: Sector repricing and heavy selling: coverage points to an “AI infrastructure” sell‑off that repriced enterprise‑software names today — SNOW fell sharply, traded at 52‑week lows and saw volume spike as investors rotated out of speculative AI plays. That macro/sector weakness is the primary driver of today’s price action. 247WallSt analysis Investing.com report
Negative Sentiment: Security incident fallout: reports that some Snowflake customers suffered data‑theft attacks after a third‑party issue add operational and reputational risk concerns for the platform. MSN / Yahoo coverage

Analysts Set New Price Targets

A number of brokerages have commented on SNOW. KeyCorp cut their price target on shares of Snowflake from $285.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. The Goldman Sachs Group dropped their price objective on shares of Snowflake from $286.00 to $246.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Needham & Company LLC dropped their price objective on shares of Snowflake from $280.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, February 26th. BTIG Research dropped their price objective on shares of Snowflake from $312.00 to $235.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.62.

Check Out Our Latest Research Report on Snowflake

Snowflake Trading Down 8.5%

The stock has a market capitalization of $41.81 billion, a P/E ratio of -30.62 and a beta of 1.23. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50 day simple moving average is $167.13 and its 200-day simple moving average is $211.81.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $197.09, for a total transaction of $1,970,900.00. Following the transaction, the executive vice president owned 461,351 shares of the company’s stock, valued at $90,927,668.59. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $206.77, for a total transaction of $41,354,000.00. Following the transaction, the director directly owned 50,329 shares in the company, valued at $10,406,527.33. The trade was a 79.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 594,313 shares of company stock valued at $108,831,780 in the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Snowflake during the fourth quarter worth $974,091,000. Jennison Associates LLC raised its holdings in shares of Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares during the period. Coatue Management LLC acquired a new stake in shares of Snowflake during the third quarter worth $441,277,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Snowflake during the fourth quarter worth $345,619,000. Finally, American Century Companies Inc. raised its holdings in shares of Snowflake by 233.3% during the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after acquiring an additional 1,473,354 shares during the period. Institutional investors own 65.10% of the company’s stock.

About Snowflake

(Get Free Report)

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.