Jim Cramer’s comments come after Snowflake posted earnings per share of $0.35, beating Wall Street’s estimates of $0.27 per share, according to Stocktwits data.
CNBC’s ‘Mad Money’ host Jim Cramer called Snowflake (SNOW) the “star of last night’s show” after the company’s latest quarterly earnings.
Snowflake reported earnings per share (EPS) of $0.35 for the second quarter (Q2) of fiscal year 2026, beating Wall Street’s estimates of $0.27 per share, according to Stocktwits data. Revenue came in at $1.14 billion, ahead of the consensus estimate of $1.09 billion.
Snowflake’s shares soared nearly 15% in pre-market trade on Thursday. On Stocktwits, retail sentiment around the stock moved higher within ‘extremely bullish’ territory over the past day as chatter jumped to ‘extremely high’ from ‘high’ levels. The stock was the second-highest trending ticker on the platform at the time of writing.
If pre-market gains hold, the company could add more than $11 billion to its market capitalization of $67 billion once the market opens.
Cramer noted that Snowflake’s success stems from its ties with Microsoft (MSFT) and Azure, as well as Nvidia (NVDA). “Snowflake’s astounding success; runs a great deal on Azure, an Nvidia shop… great Q,” he posted on X. Nvidia’s stock dipped 1.6% in early morning trade, despite the company posting an earnings beat after market close on Wednesday. Meanwhile, Microsoft’s stock edged 0.15% higher.
Snowflake also received a slew of price target hikes from Wall Street on Thursday morning, as per TheFly. Morgan Stanley raised its price target on the stock to $272, up from $262, keeping an ‘Outperform’ rating. The firm said it continues to view Snowflake as the “best way to play the data modernization theme in software.”
Bank of America increased its price target on the company to $280 from $240 and reiterated its ‘Buy’ rating. The firm said that Snowflake’s second-quarter results validated the company’s strategy to ultimately become a “true data platform in the large enterprise [industry].”
Snowflake’s stock has gained more than 27% this year and 70% over the past 12 months.
Read also: Why Snowflake Stock Is Gaining Steam In Today’s Premarket
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