Snowflake About to Report Q3 Earnings -- Options Market Braces for Big Swing

Snowflake SNOW is set to report fiscal third-quarter results on Dec. 3 as investors weigh whether the rally in AI-linked data stocks has further to run.

Shares are up about 60% year to date, reflecting demand for cloud data management tied to artificial intelligence workloads and enterprise spending.

Wall Street expects earnings per share of about $0.31, up roughly 55% from a year earlier. Revenue is seen near $1.18 billion, implying growth around 25%.

At Oppenheimer, analyst Ittai Kidron lifted his price target to $295 from $275 and kept a Buy rating. He cited customer demand and traction in newer tools such as Snowpark and Cortex, while flagging increased AI and machine-learning activity and a growing pipeline of large deals.

Guggenheim analyst John DiFucci reiterated a Hold rating. He said partner checks were constructive but added that AI monetization remains early and valuation looks stretched.

Options pricing suggests traders expect a post-earnings move of around 11% in either direction.