Movement Alert｜Snowflake Rises 3.7% Overnight, Q1 Earnings Beat and $6B AWS Deal Momentum Continues Amid HSBC Upgrade

Market Focus08:29

On June 1, Snowflake rose 3.7% overnight, trading at approximately $266.5/share, with trading volume of $2.85 million. The stock continues to rally following a series of bullish catalysts over the past week.

On the news front, HSBC upgraded Snowflake from hold to buy and raised its price target sharply from $176 to $289, while Morgan Stanley lifted its target to $300, citing accelerating AI monetization. These upgrades extend the positive momentum from Snowflake's Q1 earnings report, which showed adjusted EPS of $0.39 (vs. $0.32 expected) and revenue of $1.39 billion (vs. $1.32 billion expected), both significantly beating consensus. The company also raised its full-year product revenue guidance to $5.84 billion and announced a landmark five-year, $6 billion strategic procurement agreement with AWS covering Graviton chips and AI GPUs. Multiple investment banks have collectively reaffirmed their bullish stance on Snowflake's AI-driven growth trajectory, sustaining upward pressure on the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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