Snowflake’s stock surges 47% year-to-date on AI-driven data consumption growth, outpacing the S&P 500.
Snowflake (NYSE:SNOW) will report fiscal second-quarter earnings on September 2, 2026, after the market closes, with shares trading near a 52-week high of $341.95. The stock closed at $322.78 on Monday, up 47.15% year-to-date, driven by AI-driven demand for its consumption-based data platform.
Last quarter, Snowflake posted product revenue of $1.334 billion, a 34% year-over-year increase, and raised full-year guidance to $5.84 billion from $5.66 billion. Non-GAAP EPS beat estimates at $0.39, compared to the $0.32 forecast. The company’s $6 billion AWS commitment supports its 75% gross-margin target but could pressure cash flow if AI adoption slows.
Snowflake’s outperformance reflects investor confidence in its ability to monetize AI workloads, though its 169x forward multiple leaves little room for error in guidance.