SNOW
Snowflake Inc.

Snowflake Inc.SNOW

Technology · Software - Application
337.42USD
+0.74%
Oct 28, 2026
SNOW overview ready
Cloud Data Platform Enabling Governed AI Agent Workloads for Enterprises
Snowflake is a direct platform provider and infrastructure layer for enterprises moving analytics, data engineering, applications, and AI-agent workloads onto governed cloud data estates.
Narrative is still early
Exposed to the Enterprise AI Productionization narrative through Governed Enterprise Data Platforms for AI Agents — infrastructure supplier.
Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
Intense competition from large cloud providers.
Market Oct 27Filing Jul 31Price action Aug 9Research Jul 29

Conviction Level

CompanyFit8.0PriceAction7.4Valuation2.3CompanyPosition7.3BusinessQuality4.9

Conviction uses Company Fit, Price Action, Valuation, Business Quality. Company Position is research context, not an input.

Theme leadershipGroup context · not a Conviction input
vs SPY
+16.7pp
Theme return
+17.2%
Beating SPY
6 of 6
21 sessions to Oct 27, 2026 · ranked 6 of 59 themes
Price
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Price Action

Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
EntryBreakout + retest

Price broke through the weekly SMA200, then retested it constructively and recovered — a fresh structural entry rather than a chase.

Key Financials

Market Cap
$119.0B
Avg Volume (60D)
4.9M
60 sessions
Revenue Growth YoY
+29.2%
FY2026 vs FY2025
Gross Margin
+67.0%
Trailing twelve months
Operating Margin
-22.8%
Trailing twelve months
Free Cash Flow Yield
+1.0%
Distance from 200DMA
+57.2%
P/E
N/M
EV / Sales
21.9x
Market metrics as of Oct 27, 2026
Financial results for the period ended Jul 31, 2026
Filed balance-sheet data as of Jul 31, 2026

Fundamentals & Valuation

All three valuation perspectives agree this company is expensive.
Snowflake Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at 21.7x revenue, which requires sustained delivery to be justified.

Company Research

Thesis
Snowflake is a direct platform provider and infrastructure layer for enterprises moving analytics, data engineering, applications, and AI-agent workloads onto governed cloud data estates. Snowflake has a real, direct exposure to the shift from experimental enterprise AI toward production systems grounded in governed enterprise data.
Opportunity
Moderate opportunity
Enterprise spending on unified, governed data platforms that let organizations prepare, access, secure, share, and operationalize proprietary structured and unstructured data for production AI applications and agents.
Key risk
Intense competition from large cloud providers.

Economic classification

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Business & Markets

Technology · Software - Application
What they do

Snowflake Inc. provides a cloud-based data platform that enables organizations to consolidate, analyze, and share data using AI-driven tools to generate business insights and build data applications.

How it earns

The company generates revenue primarily through subscription-based access to its cloud data platform services.

Products & services
AI Data Cloud platform
Data consolidation and sharing tools
Customers & end markets
Financial services
Advertising and media
Retail and consumer goods
Healthcare and life sciences
Manufacturing
Technology
Telecom
Travel and hospitality
Market position

Snowflake is a leader in the cloud data platform market, competing with other major cloud and data service providers.

Demand drivers
Low cyclicality

Demand for cloud data services is driven by long-term digital transformation trends rather than economic cycles.