SNOWFLAKE INC.
In the published model solve dated 2026-Q2, anchored at $284.39, SNOWFLAKE INC. (SNOW) is priced for today's economics sustained for ~20.8 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Snowflake's consumption engine just re-accelerated at scale: first-quarter fiscal 2027 product revenue grew 34 percent to $1.33 billion, the largest sequential dollar gain in its history, with remaining performance obligations of $9.21 billion up 38 percent [Source: Q1 FY2027 earnings release, May 27, 2026]. • The risk is a price no method supports: at about 18 times revenue the quote implies roughly 26.9 percent eventual operating margins with near-ceiling growth for about 19 years, while the
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1,243 institutional managers reported holding SNOW in 13F filings for the quarter ended 2026-03-31. Together they hold about 71% of the company; the top 10 hold 33%. 138 opened new positions that quarter. Held by Vanguard Group, BlackRock, FMR (Fidelity), among others. On the short side, 21.8M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (2.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SNOW's share count grew 16% over the past five years even with $3.70B spent on repurchases. It pays no dividend. Cash returned over the past three years: $3.51B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at SNOW over the trailing three years: 2024: 3 buys totaling $15.49M. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SNOW's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-09-01 | -3.2% | -4.5% |
| 2023-12-02 | +9.4% | +17.6% |
| 2024-03-27 | -19.6% | -7.4% |
| 2024-06-01 | -5.0% | -12.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SNOW's latest 8-K filings: 2026-07-16 (items 5.02); 2026-06-30 (items 5.07); 2026-05-27 (items 2.02, 9.01); 2026-03-31 (items 7.01, 9.01); 2026-02-25 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.