What Is Happening With Snowflake Stock?
Snowflake (SNOW) stock skyrocketed nearly 90%, fueled by a perfect storm of consecutive earnings beats and groundbreaking AI cloud innovations. Behind a sharp revenue jump and soaring market confidence lies a story that’s reshaping investor expectations—and it’s just getting started.
Below is an analytical breakdown of stock movement into key contributing metrics.
| 11202024 | 11202025 | Change | |
|---|---|---|---|
| Stock Price ($) | 129.1 | 244.7 | 89.5% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3,206.4 | 4,115.9 | 28.4% |
| P/S Multiple | 13.5 | 19.9 | 48.1% |
| Shares Outstanding (Mil) | 334.1 | 335.2 | -0.3% |
| Cumulative Contribution | 89.5% |
So what is happening here? The stock price surged 89%, driven by a 28% rise in revenue and a 48% boost in the P/S multiple. Let’s explore the key events behind these impressive shifts.
Here Is Why Snowflake Stock Moved
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- Q3 FY25 Earnings Beat: Stock jumped 20% on Nov 20, 2024, due to better-than-expected earnings and raised FY25 outlook.
- Q4 FY25 Earnings Beat: Reported strong FY25 results on Feb 26, 2025, with 33% product revenue growth and strong bookings.
- Q1 FY26 Earnings Beat: May 21, 2025, revenue topped $1B first time, EPS $0.24 vs $0.21 est. Stock rose 6.63%.
- AI Cloud Innovations: Snowflake Summit (June 2025) launched Openflow, Gen2 Warehouses, and Cortex AI.
- Q2 FY26 Earnings Beat: Aug 27, 2025, EPS $0.38 vs $0.27 est, revenue $1.14B vs $1.09B est. Stock surged.
Our Current Assesment Of SNOW Stock
Opinion: We currently find SNOW stock relatively expensive. Why so? Have a look at the full story. Read Buy or Sell SNOW Stock to see what drives our current opinion.
Risk: A good way to gauge risk for Snowflake is to check how much it fell during major market shocks. In the Covid pandemic sell-off, it dropped about 28%. During the inflation shock, the dip was much steeper — about 72%. These numbers show that even with strong growth and solid fundamentals, Snowflake isn’t immune to big market moves when conditions get tough. The risk of sharp pullbacks is real, especially during broad sell-offs.
SNOW stock may have seen strong gains recently, but investing in a single stock without detailed, thorough analysis can be risky. The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.