Snowflake Earnings Loom; Analyst Jay Woods Highlights Critical Price Levels to Watch

Snowflake is scheduled to release its fiscal second‑quarter earnings this week, and NYSE insider Jay Woods, chief market strategist at Freedom Capital Markets, advises investors to monitor two pivotal price levels. Woods said that if Snowflake can break above $330, the next target could be $400. He noted that the stock recently traded near $326, just 1 % below the $330 threshold and about 23 % under the $400 mark. Snowflake’s all‑time high closing price was above $400 in late 2021. The stock has surged 48 % year‑to‑date, outpacing peers in the software sector thanks to aggressive AI investments and solid fundamentals. For comparison, the iShares Expanded Tech‑Software Sector ETF (IGV) is up only 4 % over the same period. The rapid rally may render the shares expensive for some buyers, but Woods suggests a potential pullback after the earnings release could provide a favorable entry point. He identified a support level around $290 as a prudent “toe‑in‑the‑water” price if Snowflake weakness materializes. According to LSEG, Snowflake is expected to earn 45 cents per share, a 28 % year‑over‑year increase. Woods also mentioned that he is watching other technology reporters, Palo Alto Networks and Broadcom, which are also set to publish results this week.

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