Observed Signal · Aug 31, 2026 · Earnings Report · Source: CNBC Investing · Impact: 4/5 · Sentiment: Positive
Snowflake Prepares for Earnings Amid Strong 2026 Stock Performance
Snowflake is scheduled to report its fiscal second-quarter earnings, with analysts expecting an EPS of 45 cents, representing a 28% year-over-year increase. The company's stock has risen 48% year-to-date in 2026, outperforming the broader software sector due to its solid fundamentals and strategic artificial intelligence investments. NYSE insider Jay Woods, Chief Market Strategist at Freedom Capital Markets, advises investors to watch key levels at $330 and $400 for potential growth runs, or $290 as a support level if a pullback occurs. Woods is also tracking upcoming earnings from Palo Alto Networks and Broadcom.
Snowflake is a foundational cloud data infrastructure provider widely utilized for modern marketing, data clean rooms, and customer data integration. Its financial health directly reflects corporate spending on data and AI capabilities.
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Key Takeaways & Evidence Grounding
- Snowflake is expected to post fiscal second-quarter earnings of 45 cents per share, up 28% year over year.
- Snowflake's stock has increased by 48% year-to-date in 2026, outperforming the iShares Expanded Tech-Software Sector ETF (IGV), which rose 4%.
- Chief Market Strategist Jay Woods identified critical stock price resistance levels for Snowflake at $330 and $400, with support at $290.
- Palo Alto Networks and Broadcom are also scheduled to report earnings during the same week.
Connected Companies & Entities
3 Entities mapped“Snowflake is set to report earnings this week, and investors looking to scoop up shares of the software outperformer should watch two key le...”
“Woods is also keeping an eye on two other technology stocks, Palo Alto Networks and Broadcom, which also are slated to report this week....”
“Woods is also keeping an eye on two other technology stocks, Palo Alto Networks and Broadcom, which also are slated to report this week....”
Ontology Mapping & Concepts
Related Market Signals & Shifts
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Snowflake jumps 22% on strong results and AI coding momentum
Snowflake shares surged 22% in extended trading after the data analytics company delivered strong fiscal Q2 results that beat expectations. Adjusted earnings per share hit 62 cents versus 45 cents expected, while revenue climbed 35% year over year to $1.55 billion, above the $1.48 billion consensus. The net loss narrowed to $191.7 million from $297.9 million a year earlier. The company highlighted momentum for its CoCo AI coding agent, which now counts 9,100 accounts, up more than 2,000 in the quarter. For Q3, product revenue guidance of $1.59 billion exceeded estimates, and management raised its full-year product revenue forecast to $6.07 billion while expanding its adjusted operating margin outlook to 14.5%. Following the report, Morgan Stanley and Bank of America raised their price targets to $470, implying roughly 54% upside, and most of the 52 covering analysts maintain buy ratings. Shares had already gained 39% in 2026 through Wednesday's close.
Snowflake Jumps 35% on AI Momentum
Snowflake shares surged about 35% on May 28, 2026 after the company beat fiscal first-quarter adjusted earnings and revenue expectations, raised guidance, and announced expanded AI initiatives. The company said it will spend $6 billion on compute from Amazon and is expanding use of Amazon’s in-house chips for AI workloads. Finance chief Brian Robins said tools such as Cortex Code and Snowflake Intelligence are creating a “step function change” in AI-driven revenue potential and internal productivity. Snowflake added 616 net new customers in the quarter, has 779 customers spending more than $1 million on a trailing 12-month basis, provided fiscal Q2 margin and product revenue guidance, and disclosed intent to acquire AI startup Natoma. The results helped lift software peers and eased concerns about AI reducing SaaS demand.
Snowflake Soars; HSBC Upgrades Stock
Snowflake shares jumped more than 36% in their biggest single-day gain after the company announced a $6 billion compute commitment with Amazon and reported stronger-than-expected fiscal first-quarter results driven by demand for its AI tools such as Cortex Code (CoCo). HSBC upgraded Snowflake from hold to buy and raised its price target to $289 from $176, citing CoCo’s monetization potential and growing account adoption. Despite the surge, Snowflake is up about 9% year-to-date and remains a consensus buy among most analysts covering the stock.
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