Snowflake Inc. (NYSE:SNOW) is one of the Top AI and Technology Stocks to Buy According to Hedge Funds. On December 3, the company released its financial results for Q3 2026, with revenue coming at $1.21 billion, reflecting 29% YoY growth amidst 29% YoY growth in product revenue to $1.16 billion.
Snowflake Inc. (NYSE:SNOW)’s product revenue rose $258.1 million and $726.6 million for 3 and 9 months ended October 31, 2025 on a YoY basis, respectively, primarily because of higher consumption of its platform by existing customers. This is evidenced by the net revenue retention rate of 125% as of October 31, 2025. The company saw an operating loss of $329.4 million in Q3 2025 compared to $365.4 million in Q3 2024, amidst an increase in total operating expenses of ~16.7% YoY to $1.15 billion and a higher gross profit.
As of October 31, 2025, Snowflake Inc. (NYSE:SNOW)’s RPO came at $7.9 billion, of which it anticipates ~48% to be recognized as revenue in the 12 months ending October 31, 2026 considering the historical customer consumption patterns. For Q4 2026, the company expects product revenue of between $1,195 million – $1,200 million, reflecting a growth of 27% on a YoY basis. The company expects a non-GAAP operating margin of 7%.
In a different update, on December 8, Citi reduced its price objective on the company’s stock to $300 from $310, while keeping a “Buy” rating.
Snowflake Inc. (NYSE:SNOW) offers a cloud-based data platform for various organizations in the US and internationally.
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Disclosure: None. This article is originally published at Insider Monkey.
