Snowflake Inc. (SNOW) is scheduled to report its Q1 FY27 earnings on Wednesday, May 27, after the market close. The cloud data platform company enters the print with its stock trading around $172, down approximately 22% year-to-date but up 19.3% over the past month. Wall Street holds a Strong Buy consensus on SNOW, with an average price target of $224.32, implying roughly 30% upside from current levels.
Analysts expect revenue of about $1.32 billion, a 27% year-over-year increase, and earnings per share of $0.32, which would mark a 33.3% jump. Options traders are pricing in a significant post-earnings move of roughly 13.52% in either direction, above the stock’s four-quarter average move of 11.85%.
TD Cowen analyst Derrick Wood reiterated a Buy rating with a $255 price target, citing positive partner conversations that point to a strong quarter. Wood highlighted momentum in core cloud data warehouse consumption, competitive migrations, and rising AI adoption. He is particularly focused on updates regarding Cortex Code (also known as CoCo), Snowflake’s AI coding agent, and expects stronger upside than the prior two quarters.
Benchmark analyst Yi Fu Lee raised his price target to $200 from $190 and maintained a Buy rating. Lee believes Snowflake is “highly likely to comfortably” beat Street estimates on product revenue, operating income, and margins. He identified three products—Snowflake Intelligence, Cortex Code, and Observe—as key drivers of AI adoption across the company’s more than 9,000 accounts.
KeyBanc likewise holds an Overweight rating with a $200 price target, though it noted mixed survey results on growth expectations and the potential impact of large language models. Snowflake also recently secured a deal with the U.S. General Services Administration to provide federal agencies access to its AI Data Cloud platform.
Not all voices are fully bullish. TipRanks’ AI Analyst carries a Neutral rating with a $177 target, flagging ongoing GAAP losses, negative P/E, and leverage risk, even while acknowledging solid cash generation. Overall, the analyst community is overwhelmingly positive, with 28 Buy ratings and only two Holds. Investors will closely watch management’s commentary on enterprise AI workload demand and consumption velocity when Snowflake reports after the close on May 27.
