We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Snowflake Surges on Upbeat Earnings: ETFs in Focus
Read MoreHide Full Article
Key Takeaways
Snowflake beat Q1 earnings and revenue estimates as AI and cloud demand remained strong.
A new $6 billion AWS deal strengthens Snowflake's enterprise AI and cloud migration strategy.
ETFs with high SNOW exposure, including DUNK, SPYA, LRNZ and CLOU, could benefit ahead.
Snowflake Inc. (SNOW - Free Report) reported adjusted quarterly earnings of $0.39 per share on Wednesday, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.24 per share a year ago.
The company posted revenues of $1.39 billion for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 5.23%. This compares to year-ago revenues of $1.04 billion.
Snowflake raised its annual product revenue forecast on Wednesday as enterprises increased spending on AI applications and shifted more data workloads to the cloud platform. The upbeat outlook, along with a major new partnership with Amazon Web Services, sent Snowflake shares soaring 36% in extended trading.
The company signed a five-year, $6 billion agreement with AWS to expand the use of AWS’ Graviton processors and AI infrastructure, deepening their collaboration around enterprise AI.
Expanded AI Integration and Enterprise Migration Efforts
The latest agreement includes deeper integration of generative and agentic AI tools, broader go-to-market initiatives through AWS Marketplace and expanded workload migration programs. These efforts are aimed at helping enterprises move beyond AI experimentation toward large-scale operational deployment.
Core Data Platform and AI Tools Drive Momentum
Snowflake has continued benefiting from strong enterprise demand for its core data warehousing business. Increased migration from legacy systems and growing adoption of machine learning tools have further accelerated growth.
The company also reported strong traction for AI-focused offerings such as Cortex Code and Snowpark.
Revenue Forecast Raised Above Expectations
Snowflake lifted its fiscal 2027 product revenue forecast to $5.84 billion from the prior projection of $5.66 billion.
ETFs in Focus
Against this backdrop, below we highlight a few Snowflake-heavy exchange-traded funds (ETFs).
Dana Unconstrained Equity ETF (DUNK - Free Report) – SNOW has about 7.74% weight
Twin Oak Endure ETF (SPYA - Free Report) – SNOW has about 6.80% weight
TrueShares Technology, AI & Deep Learning ETF (LRNZ - Free Report) – SNOW has about 4.67% weight
Global X Cloud Computing ETF (CLOU - Free Report) – SNOW has about 4.54% weight
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Snowflake Surges on Upbeat Earnings: ETFs in Focus
Key Takeaways
Snowflake Inc. (SNOW - Free Report) reported adjusted quarterly earnings of $0.39 per share on Wednesday, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.24 per share a year ago.
The company posted revenues of $1.39 billion for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 5.23%. This compares to year-ago revenues of $1.04 billion.
Snowflake raised its annual product revenue forecast on Wednesday as enterprises increased spending on AI applications and shifted more data workloads to the cloud platform. The upbeat outlook, along with a major new partnership with Amazon Web Services, sent Snowflake shares soaring 36% in extended trading.
The company signed a five-year, $6 billion agreement with AWS to expand the use of AWS’ Graviton processors and AI infrastructure, deepening their collaboration around enterprise AI.
Expanded AI Integration and Enterprise Migration Efforts
The latest agreement includes deeper integration of generative and agentic AI tools, broader go-to-market initiatives through AWS Marketplace and expanded workload migration programs. These efforts are aimed at helping enterprises move beyond AI experimentation toward large-scale operational deployment.
Core Data Platform and AI Tools Drive Momentum
Snowflake has continued benefiting from strong enterprise demand for its core data warehousing business. Increased migration from legacy systems and growing adoption of machine learning tools have further accelerated growth.
The company also reported strong traction for AI-focused offerings such as Cortex Code and Snowpark.
Revenue Forecast Raised Above Expectations
Snowflake lifted its fiscal 2027 product revenue forecast to $5.84 billion from the prior projection of $5.66 billion.
ETFs in Focus
Against this backdrop, below we highlight a few Snowflake-heavy exchange-traded funds (ETFs).
Dana Unconstrained Equity ETF (DUNK - Free Report) – SNOW has about 7.74% weight
Twin Oak Endure ETF (SPYA - Free Report) – SNOW has about 6.80% weight
TrueShares Technology, AI & Deep Learning ETF (LRNZ - Free Report) – SNOW has about 4.67% weight
Global X Cloud Computing ETF (CLOU - Free Report) – SNOW has about 4.54% weight