PREVIEW: Snowflake lifts heading into results

Mongodb

27/08/2025 16:41

** Shares of cloud firm Snowflake SNOW.N rise 2.9% to $199.96 on Weds ahead of its Q2 results due after bell, with artificial intelligence in focus

** SNOW shares getting a boost on the session as peer MongoDB's MDB.O stock pops >30% on AI-fueled demand

** Wall Street expects SNOW to post rev of $1.09 bln, up 25% y/y, and adj EPS of 27 cents compared to 18 cents a yr-ago, per LSEG data

** Last week, BofA Global Research upgraded SNOW to 'buy', pointing to a survey showing accelerated customer spending supported by momentum across AI and data storage offerings

** Of 51 brokerages covering SNOW, recommendation breakdown is 42 "strong buy" or "buy", 8 "hold" and 1 "sell"; median PT is $235 - LSEG

** Including move on Weds, stock up roughly 30% YTD

** SNOW currently trading at ~141x forward earnings vs peer mean of ~39x

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))