Snowflake Q3 Revenue Up 28.7% to $1.21B, Analysts Raise Targets to $285–$290
44 analysts rate Snowflake a Moderate Buy with 35 buy recommendations, 4 holds and a $275.58 average price target. On December 3 Snowflake reported Q3 revenue of $1.21 billion (+28.7% YoY) and EPS of $0.35, topping forecasts, and KeyCorp, Wells Fargo plus others raised targets to $285–$290.
1. Zinnia Integration with Snowflake Boosts Insurance Analytics
Zinnia, a leading life insurance and annuity technology provider backed by KKR and Vista Credit Partners, has fully integrated Snowflake’s AI Data Cloud to deliver real-time analytics and AI solutions for insurance carriers. Leveraging Snowflake’s scalable cloud data warehouse, Zinnia now offers advanced machine learning models for predictive risk scoring, self-hosted Streamlit applications for custom reporting and generative AI tools to automate customer service workflows. Dan Gremmell, Zinnia’s Chief Data Officer, noted that what previously took months to deploy can now go live on day one, empowering clients such as Security Benefit to exchange large data sets securely and generate insights on demand. This collaboration positions Zinnia as a premier Snowflake implementation partner in the insurance vertical, with enterprise-grade security, near-zero latency analytics and a modern data architecture that grows with business needs.
2. Broker Consensus and Financial Metrics Highlight Growth Trajectory
Snowflake has received coverage from 44 research firms, yielding 35 buy recommendations, four holds, three sells and two strong buys. Analysts cite 28.7% year-over-year revenue growth to $1.21 billion in the most recent quarter and EPS of $0.35 versus $0.20 a year earlier. Despite a negative net margin of 30.8% and return on equity of –45.9%, consensus estimates call for improved profitability over the coming year. Insider transactions show directors and executives reducing positions by roughly 60.6% in one case and 1.9% in another, with total insider sales of 418,681 shares over the past 90 days. Institutional investors hold 65.1% of outstanding shares, reflecting confidence in Snowflake’s long-term data platform strategy.