Snowflake Inc. (SNOW) shares closed at $212.08 on Wednesday, nearing its 52-week high of $214.83 reached on June 4, 2025. The stock has surged **37.3% year-to-date**, outperforming the **Zacks Internet – Software industry** (12.8%) and the **Zacks Computer and Technology sector** (1.5%).
Driving this growth, Snowflake reported a **25.7%** year-on-year revenue increase to **$1.04 billion** in its first fiscal quarter of 2026, surpassing the Zacks consensus estimate by **3.74%**. Non-GAAP earnings were **24 cents per share**, above the expected **22 cents**. The company also added **451 net new customers**, reflecting an **18.8%** year-on-year growth.
For the second quarter of fiscal 2026, Snowflake anticipates product revenues between **$1.03-$1.04 billion**, indicating **25%** year-on-year growth, while fiscal 2026 projections suggest a total revenue of **$4.32 billion**. Despite strong performance, Snowflake’s valuation raises questions about its long-term growth prospects amidst increasing competition.
