Feb 27 - Snowflake (SNOW, Financial) shares climbed about 13% in pre-market trading on Thursday after the cloud data platform provider posted fourth-quarter fiscal 2025 results and guidance that outperformed Wall Street forecasts, according to a Wednesday press release. Wedbush reiterated an Outperform rating and US$210 price target, citing strong top- and bottom-line beats and product revenue guidance that was slightly under some analysts' estimates.
The San Mateo-based firm reported a 28% year-over-year increase in product revenue and an operating margin of 9%, marking its second-highest level on record. Alongside the results, Snowflake disclosed an expanded partnership with Microsoft to integrate OpenAI models directly into its Cortex AI offering, which the company says will enable customers to build data agents using both OpenAI and Anthropic large language models. Wedbush analysts noted that these AI initiatives could bolster Snowflake's competitiveness across industries.
Meanwhile, Jefferies maintained a Buy rating with a US$220 target, citing the firm's healthy 4% product revenue beat and an initial fiscal 2026 revenue outlook of 24% growth year over year. In contrast, Morgan Stanley kept an Equal-weight rating and a US$190 price target, noting that first-quarter product revenue guidance implies continued deceleration, though fiscal 2026 estimates came in stronger than anticipated.
Snowflake also confirmed that Chief Financial Officer Michael Scarpelli intends to retire, remaining with the company as an advisor while a successor is found.
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