Why Snowflake Inc. (SNOW) Stock Rose 16.6% on Sep 3, 2026
The clearest new catalyst: Earnings beat and guidance raise.
Why did SNOW stock rise?
Snowflake surged 16.6% on September 3, 2026, following a fiscal Q2 earnings beat and raised full-year guidance. The company reported total revenue of $1.55 billion (35% YoY growth, beating the $1.48 billion consensus) and adjusted EPS of $0.62 (versus $0.45 expected), while lifting full-year product revenue guidance to $6.07 billion. AI workloads—including strong adoption of its CoCo coding agent and CoWork platform—drove roughly half the growth acceleration. Multiple analysts, including Barclays, Jefferies, Citi, and Benchmark, raised price targets in response.
- Earnings beat and guidance raise: Total revenue of $1.55 billion beat consensus of $1.48 billion with 35% YoY growth; adjusted EPS of $0.62 beat $0.45 estimate. Management raised full-year product revenue guidance to $6.07 billion (from $5.84 billion) and lifted operating margin outlook, with non-GAAP operating margins expanding to 15.3%.
- AI-driven growth acceleration: Enterprise demand for AI tools drove higher platform consumption and customer additions, with AI workloads accounting for roughly half of the growth acceleration. CoCo (AI coding agent) surpassed 9,100 accounts and CoWork platform expanded to 5,800 accounts; remaining performance obligations (backlog) grew 30% to $9.00 billion.
- Analyst price-target increases: Following the report, Barclays, Jefferies, Citi, and Benchmark all raised price targets on the stock.
Initial detection
BestStocks first flagged SNOW intraday on Sep 3, 2026; this analysis was finalized after the close using the confirmed +16.6% session move and additional catalyst research.
Show the initial intraday note
Snowflake reported a fiscal Q2 earnings beat with total revenue of US$1.55 billion (35% YoY growth) versus expectations of US$1.48 billion, and raised full-year product revenue guidance to US$6.07 billion, per the web catalyst. AI workloads drove roughly half of the growth acceleration. Following the report, Barclays, Jefferies, Citi, and Benchmark all raised price targets. SNOW surged +19.71% from $305.84 to $366.12 on volume of 11.4M shares (8.34x the typical 120-minute average).
What to watch next: Monitor for any analyst reports or price-target revisions over the next 1–2 trading days; track whether volume remains elevated and whether the stock holds above $360 resistance into the close and next session.
Other developments that session
Snowflake Inc. (SNOW) moved -5.51% from $377.25 to $356.47 on September 3, 2026, despite reporting fiscal Q2 total revenue of $1.55 billion (beating the $1.48 billion consensus by 4.7%) and raising full-year fiscal 2027 product revenue guidance to $6.07 billion. Product revenue grew 37% year-over-year, with AI workloads driving roughly half of the acceleration. Volume was 4.0x the 5-day average.
Frequently asked questions
Why did Snowflake Inc. (SNOW) stock rise on Sep 3, 2026?
Snowflake surged 16.6% on September 3, 2026, following a fiscal Q2 earnings beat and raised full-year guidance. The company reported total revenue of $1.55 billion (35% YoY growth, beating the $1.48 billion consensus) and adjusted EPS of $0.62 (versus $0.45 expected), while lifting full-year product revenue guidance to $6.07 billion. AI workloads—including strong adoption of its CoCo coding agent and CoWork platform—drove roughly half the growth acceleration. Multiple analysts, including Barclays, Jefferies, Citi, and Benchmark, raised price targets in response.
How much did SNOW stock rise on Sep 3, 2026?
SNOW rose 16.6% during the Sep 3, 2026 trading session.
What were the main drivers behind SNOW's move?
Earnings beat and guidance raise; AI-driven growth acceleration; Analyst price-target increases.