Needham Rates Snowflake (SNOW) Buy, $450 Price Target

Needham reaffirms its Buy rating on Snowflake with a price target of $450 as of October 12, 2026, a 47.31% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:00 PM EDT

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Needham rated Snowflake Inc. ($SNOW) "Buy" with a $450 price target on October 12, 2026.

Since the rating, $SNOW is down 14.8% to date (from the $360.37 close on Oct 12, 2026).

SNOW Snowflake Inc.

$306.84 +41.59% year to date

Daily close · Oct 16, 2026

Key Points

Needham reiterated its Buy rating on Snowflake Inc. with a price target of $450 on October 12, 2026.
Needham's $450 price target implies 47.31% upside from Snowflake Inc.'s ($SNOW) current $305.47 share price.
Snowflake shares recently traded around $305.47, which is 32.1% below the analyst's target.
The company's revenue grew by 35.1% year-over-year, but it reported a net margin of -20.1%.

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Needham reiterated its Buy rating on Snowflake Inc. (NYSE: SNOW) with a price target of $450 on October 12, 2026. This comes as the stock trades at approximately $305.47 as of October 16, 2026.

Other Institutional Activity in Snowflake Inc.

Blackrock Inc. holds 31,405,420 shares worth about $9.6 billion after increasing its position by 3,442,265 shares, a 12.3% rise. Vanguard Capital Management LLC owns 15,066,218 shares valued at $4.6 billion, having added 288,172 shares, up 1.9%. Meanwhile, Vanguard Portfolio Management LLC has 12,878,536 shares worth about $3.95 billion, with a slight increase of 35,959 shares, or 0.3%. In contrast, JPMorgan Chase & Co. decreased its holdings by 1,967,710 shares, ending with 9,218,816 shares valued at $2.83 billion, a drop of 17.6%. State Street Corporation increased its stake by 295,020 shares, totaling 7,957,874 shares worth about $2.44 billion, a 3.9% rise.

Snowflake Inc. Stock Down 8.8%

Snowflake shares are currently trading below their 50-day moving average by about 8.3% but are above their 200-day moving average by 31.1%. The stock is also 20.6% below its 52-week high of $384.56, while it is 158.2% above its 52-week low of $118.30. The recent trading price indicates that shares are below the mean analyst price target of $425.14 by about 28.1%.

12-month forecast

$SNOW price target

Snowflake Inc. daily closes and this analyst's $450 target. Not advice.

Recent Earnings

For the trailing twelve months, Snowflake reported revenue of approximately $5.43 billion, reflecting a year-over-year growth of 35.1%. However, the company posted a net margin of -20.1% and a return on equity of -48.1%. The next earnings report is scheduled for December 2, 2026.

Insider Buying and Selling at Snowflake Inc.

Several insiders sold shares recently. Christian Kleinerman, an officer, sold 2,622 shares at an average price of $344.50 on September 22, 2026, totaling about $903,279. Jonathan Mead Beaulier, also an officer, sold 755 shares for approximately $253,953 at an average price of $336.36 on September 23, 2026. Director Benoit Dageville sold 50,000 shares at $339.08 on the same day, valued at about $16.95 million, and another 50,000 shares at $333.42 on October 7, 2026, for roughly $16.67 million.

Analysts Set New Price Targets

On October 12, 2026, Needham reiterated its Buy rating on Snowflake with a price target of $450. Earlier, on September 3, 2026, JP Morgan maintained an Overweight rating with a target of $426, up from $285. Goldman Sachs also maintained its Buy rating with a target of $436, an increase from $300. Meanwhile, Macquarie kept a Neutral rating with a target of $350, up from $200. The mean price target from analysts stands at $425.14, supported by 48 opinions, indicating a consensus recommendation of Strong Buy.

About Snowflake Inc.

Snowflake Inc. is a cloud-based data platform provider that helps organizations manage and analyze data. Its services include AI-driven solutions that allow businesses to consolidate their data into a single source for better insights and application development. This analyst rating comes amidst ongoing developments in the tech sector, where data management is increasingly vital for operational efficiency.

Bottom Line

Investors should keep an eye on Snowflake's upcoming earnings report on December 2, 2026, and monitor further analyst ratings and institutional activity as the market evolves. Needham's reaffirmation of its target suggests confidence in the company's future performance despite current trading levels.