UBS Upgrades Snowflake (BIT:1SNOW)

UBS upgraded Snowflake (BIT:1SNOW) to Buy on June 4, 2025, with an average analyst price target of €197.11, suggesting a 7.28% upside from the previous closing price of €183.74. Institutional ownership has increased by 5.24% in the last three months to 245,487K shares, with the number of funds holding the stock rising by 7.28%; JPMorgan Chase significantly increased its position by 52.76%, while others like Jennison Associates decreased their holdings.

Analysis

Snowflake (BIT:1SNOW) received a notable upgrade from UBS on June 4, 2025, moving from Neutral to Buy, which is supported by an average one-year analyst price target of €197.11 as of June 2, 2025, implying a 7.28% upside from its then-closing price of €183.74. While price target forecasts vary significantly, ranging from a low of €100.91 to a high of €401.37, the company's projected annual revenue growth of 25.63% to €4,824MM and projected non-GAAP EPS of €1.79 underpin a positive fundamental outlook. Institutional sentiment appears broadly constructive; the number of funds holding Snowflake increased by 7.28% to 1,784 in the last quarter, and total institutional share ownership rose by 5.24% to 245,487K shares, with the average portfolio weight dedicated to 1SNOW increasing by 12.32% to 0.45%. Specific institutional movements show divergence: JPMorgan Chase substantially increased its shareholding by 52.76% to 10,077K shares and its portfolio allocation by 96.48%, while Jennison Associates reduced its shareholding by 15.06% and its corresponding portfolio allocation by 49.53%, reflecting active portfolio rebalancing among large investors, though the overall trend in institutional ownership and fund participation is positive.

Key Decisions for Investors

• Investors may consider the UBS upgrade from Neutral to Buy and Snowflake's projected 25.63% annual revenue growth as supportive of a positive outlook, consistent with the average analyst price target suggesting a 7.28% upside.
• The increase in institutional ownership by 5.24% and the 7.28% rise in the number of funds holding the stock, particularly JPMorgan Chase's substantial 52.76% increase in shares, signal growing institutional interest, though the wide price target range (€100.91 to €401.37) warrants attention to valuation.
• It is advisable to monitor ongoing institutional trading disclosures and future analyst estimate revisions, as divergent activities, such as Jennison Associates reducing its holdings while others like JPMorgan Chase significantly increase theirs, highlight varying convictions among large investors that could influence market dynamics.