Snowflake shares have gained 46% year to date in 2026 and were recently trading between $319 and $331 ahead of Wednesday’s fiscal second-quarter report. Wall Street expects adjusted earnings of $0.45 per share and revenue of about $1.48 billion, compared with $0.35 per share a year earlier and roughly 30% revenue growth. Cantor Fitzgerald raised its price target to $405 and maintained an Overweight rating, while Rosenblatt lifted its target to $345 and KeyBanc raised its target to $375. The newer preview cites a Moderate Buy consensus from 34 analysts with an average target of $333.08, differing from the earlier record’s Strong Buy consensus and $360.61 mean target. Investors are also monitoring insider sales totaling 1.16 million shares worth about $321.7 million, elevated short interest, a valuation near 16 times forward revenue and competition from Microsoft, Databricks and AI tools. The earlier record identified the report as Snowflake’s fiscal second-quarter 2027 results on Sept. 2, while the newer preview refers to a Wednesday release without specifying the fiscal year.