Snowflake Retail Investors Brace For New 52-Week High For Stock After Q1 Beat, Guidance Raise

Snowflake, Inc. (SNOW) shares rallied in Wednesday’s after-hours session following the cloud-based data platform provider’s quarterly results.

Bozeman, Montana-based Snowflake reported adjusted earnings per share (EPS) of $0.24 for the first quarter of the fiscal year 2026, up from the $0.14 reported a year ago and the consensus of $0.21.

Revenue climbed nearly 26% year over year (YoY) to $1.04 billion versus the $1.01 billion consensus estimate. Product revenue, accounting for about 96% of the total, surged up 26% to $996.8 million, exceeding the $955 million-960 million guidance.

The adjusted operating margin of 9% was better than the 5% rate guided by the company.

Among the operational metrics, net revenue retention rate was 124% at the end of April, and the remaining performance obligations (RPO) grew 27% to $6.7 billion, slowing from the 33% growth in the previous quarter.

Snowflake said it now had 606 customers with trailing 12-month product revenue greater than $1 million and 754 Forbes Global 2000 customers, representing 27% and 4% growth, respectively.

CEO Sridhar Ramaswamy said, “Snowflake’s mission is to empower every enterprise to achieve its full potential through data and AI.”

Looking ahead, Snowflake guided second-quarter product revenue to $1.035 billion-$1.040 billion, marking 25% YoY growth and an adjusted operating margin of 8%.

The company upped its fiscal year 2026 product revenue guidance to $4.325 billion from $4.280 billion and maintained the adjusted operating margin guidance at 8%.

On Stocktwits, retail sentiment toward Snowflake stock was ‘extremely bullish’ (98/100), with the message volume at ‘extremely high’ levels. 

A bullish watcher predicted the stock hitting a new 52-week high in earnings reaction. The one-year peak for the stock is $194.40, hit on Feb. 18. Some also pointed to strong resistance around $195 but hoped that upgrades could take it past the $200 level on Thursday.

Another user lamented missing out on the earnings rally.

Snowflake stock fell 2.06% to $179.12 in Wednesday’s regular session and climbed 7.47% after-hours. The stock is up 16% this year.

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