Faruqi & Faruqi Investigates Snowflake Securities Litigation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 18 2026
0mins
Should l Buy SNOW?
Source: Globenewswire
- Legal Investigation Launched: Faruq & Faruqi LLP is investigating potential claims against Snowflake Inc., particularly encouraging investors who purchased securities between June 27, 2023, and February 28, 2024, to contact them before the April 27, 2026 deadline to seek lead plaintiff status.
- Financial Results Disclosure: On February 28, 2024, Snowflake disclosed its financial results for the quarter ending January 31, 2024, indicating expected revenue headwinds due to product efficiency gains and tiered storage pricing, which led to an 18.14% drop in stock price the following day.
- Executive Change Impact: On the same day, Snowflake announced the retirement of CEO Frank Slootman, further exacerbating market concerns about the company's future performance and undermining investor confidence in the management team.
- Investor Rights Protection: Faruq & Faruqi encourages anyone with information regarding Snowflake's conduct, including whistleblowers and former employees, to come forward to provide legal support for affected investors, ensuring their rights are protected.
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Analyst Views on SNOW
Wall Street analysts forecast SNOW stock price to rise
33 Analyst Rating
30 Buy
3 Hold
0 Sell
Strong Buy
Current: 150.820
Low
237.00
Averages
278.19
High
312.00
Current: 150.820
Low
237.00
Averages
278.19
High
312.00
About SNOW
Snowflake Inc. is a data cloud and artificial intelligence company. Its platform is the technology that powers the AI Data Cloud, enabling customers to consolidate data into a single source of truth to drive meaningful insights, apply artificial intelligence (AI) to solve business problems, build data applications, and share data and data products. It provides its platform through a customer-centric, and consumption-based business model. Its cloud-native architecture consists of three independently scalable but logically integrated layers across compute, storage, and cloud services. The compute layer provides dedicated resources to enable users to simultaneously access common data sets for many use cases with minimal latency. The storage layer ingests massive amounts and varieties of structured, semi-structured, and unstructured data to create a unified data record. Its ClearQuery platform allows users to rapidly search, explore, and analyze their data using natural language queries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Faruqi & Faruqi Investigates Snowflake Securities Litigation
- Legal Investigation Launched: Faruq & Faruqi LLP is investigating Snowflake Inc. for potential securities violations between June 27, 2023, and February 28, 2024, due to misleading statements that may impact investor confidence and lead to litigation.
- Financial Results Disclosure: On February 28, 2024, Snowflake disclosed financial results indicating expected revenue headwinds from product efficiency gains and tiered storage pricing, resulting in an 18.14% stock price drop from $230 to $188.28 the following day, reflecting market concerns about the company's outlook.
- Executive Changes Impact: On the same day, Snowflake announced the retirement of CEO Frank Slootman, which may exacerbate market uncertainties regarding corporate governance and future strategy, affecting investor assessments of the company's long-term value.
- Investor Rights Protection: Faruq & Faruqi LLP reminds investors that April 27 is the deadline to apply as lead plaintiff in the class action, emphasizing the importance of protecting investor rights and encouraging affected investors to reach out for legal support.
See More
Snowflake Inc. Class Action Notice Issued
- Class Action Timeline: Rosen Law Firm reminds investors who purchased Snowflake Inc. securities between June 27, 2023, and February 28, 2024, that they must apply to be lead plaintiff by April 27, 2026, or risk losing their right to compensation.
- Lawsuit Background: The lawsuit alleges that Snowflake made repeated positive statements about its business during the class period while failing to disclose that product efficiency gains and pricing strategy changes would materially negatively impact consumption and revenues, leading to investor losses.
- Law Firm Credentials: Rosen Law Firm specializes in securities class actions and has recovered over $438 million for investors in 2019 alone, being ranked first by ISS Securities Class Action Services in 2017, showcasing its strong capabilities and successful track record in this field.
- Investor Action Recommendations: Investors can visit Rosen Law Firm's website or call the toll-free number for more information, emphasizing the importance of selecting qualified legal counsel to ensure proper representation in the lawsuit and avoid inexperienced intermediaries.
See More
Benchmark Initiates Coverage on Snowflake with Buy Rating
- Coverage Initiation: Benchmark has initiated coverage on Snowflake (SNOW) with a Buy rating and a $190 price target, highlighting its strong performance in the generative AI space, showcasing robust technology leadership and high AI defensibility.
- Market Potential: With a total addressable market (TAM) exceeding $500 billion, Snowflake has consistently outperformed market expectations over the past few years, demonstrating strong profitable growth fundamentals that align with Benchmark's SaaS investment framework.
- R&D Investment: Snowflake's R&D spending has averaged 22.8% of revenue since fiscal 2020, enabling products like the Gen2 Standard Warehouse and Adaptive to lead in price-performance metrics within the data warehousing sector, further solidifying its market position.
- Strategic Acquisitions: Through strategic acquisitions, Snowflake has enhanced its competitive edge, particularly in data pipeline, migration, and observability market expansions, which analysts believe will drive its long-term success in the enterprise AI revolution.
See More
Snowflake Appoints New Chief Revenue Officer
- Executive Change: Snowflake announced the appointment of Jonathan Beaulier as Chief Revenue Officer, replacing Mike Gannon who left for personal reasons, which led to a 2% drop in premarket trading; however, Beaulier expressed enthusiasm about leveraging his decade of experience to drive growth.
- Revenue Responsibilities: In his new role, Beaulier will oversee Snowflake's revenue and go-to-market teams, aiming to enhance customer value through an AI-first strategy, thereby strengthening the company's competitive position in the market.
- Financial Guidance Reaffirmed: Following Beaulier's promotion, Snowflake reaffirmed its financial guidance for fiscal year 2027, expecting product revenue between $1.262 billion and $1.267 billion for Q1, and $5.66 billion for the full year, indicating confidence in future growth prospects.
- Market Reaction: Despite the reaffirmation of financial guidance post-executive change, the market reacted negatively with a stock price decline, reflecting investor concerns regarding the company's growth potential moving forward.
See More
Snowflake Inc. Faces Class Action Lawsuit for Securities Violations
- Class Action Reminder: The Schall Law Firm has alerted investors about a class action lawsuit against Snowflake Inc. (NYSE:SNOW) for violations of §§10(b) and 20(a) of the Securities Exchange Act, concerning securities purchased between June 27, 2023, and February 28, 2024, which may have resulted in investor losses.
- False Statements Allegation: The complaint alleges that Snowflake made false and misleading statements regarding customer demand and potential revenues, indicating that its tiered storage pricing and efficiency gains could negatively impact revenues and consumption, thereby harming investor interests.
- Investor Losses: Following the revelation of the truth about Snowflake, investors suffered damages, and the Schall Law Firm encourages affected investors to contact them before April 27, 2026, to participate in the lawsuit and seek recovery of their losses.
- Legal Representation Information: The class action has not yet been certified, meaning investors are not represented by an attorney during this period; the Schall Law Firm offers free consultations to ensure investors understand their rights and take necessary actions.
See More
Snowflake Appoints New CRO and Reaffirms Financial Guidance
- Executive Transition: Snowflake has appointed Jonathan Beaulier as Chief Revenue Officer effective March 31, 2026, who has been instrumental in driving the company's growth since 2016, and is expected to leverage his extensive experience to lead the company into its next growth phase.
- Revenue Responsibility: Beaulier will oversee the company's revenue and go-to-market teams, aiming to drive higher growth in a rapidly changing market through his trusted position within the sales team and passion for driving change.
- Financial Guidance Reaffirmed: Snowflake reaffirms its financial guidance for the first quarter and full-year of fiscal 2027, indicating the company's stability and confidence in continued growth amid the current economic environment, with no changes to its guidance philosophy.
- Customer Base Expansion: Snowflake currently serves over 13,300 customers, including some of the world's largest companies, highlighting its leadership position in the AI Data Cloud space and its ongoing ability to attract new clients, which is expected to further drive revenue growth.
See More
Faruqi & Faruqi Investigates Snowflake Securities Litigation
- Legal Investigation Launched: Faruq & Faruqi LLP is investigating Snowflake Inc. for potential securities violations between June 27, 2023, and February 28, 2024, due to misleading statements that may impact investor confidence and lead to litigation.
- Financial Results Disclosure: On February 28, 2024, Snowflake disclosed financial results indicating expected revenue headwinds from product efficiency gains and tiered storage pricing, resulting in an 18.14% stock price drop from $230 to $188.28 the following day, reflecting market concerns about the company's outlook.
- Executive Changes Impact: On the same day, Snowflake announced the retirement of CEO Frank Slootman, which may exacerbate market uncertainties regarding corporate governance and future strategy, affecting investor assessments of the company's long-term value.
- Investor Rights Protection: Faruq & Faruqi LLP reminds investors that April 27 is the deadline to apply as lead plaintiff in the class action, emphasizing the importance of protecting investor rights and encouraging affected investors to reach out for legal support.
See More
Snowflake Inc. Class Action Notice Issued
- Class Action Timeline: Rosen Law Firm reminds investors who purchased Snowflake Inc. securities between June 27, 2023, and February 28, 2024, that they must apply to be lead plaintiff by April 27, 2026, or risk losing their right to compensation.
- Lawsuit Background: The lawsuit alleges that Snowflake made repeated positive statements about its business during the class period while failing to disclose that product efficiency gains and pricing strategy changes would materially negatively impact consumption and revenues, leading to investor losses.
- Law Firm Credentials: Rosen Law Firm specializes in securities class actions and has recovered over $438 million for investors in 2019 alone, being ranked first by ISS Securities Class Action Services in 2017, showcasing its strong capabilities and successful track record in this field.
- Investor Action Recommendations: Investors can visit Rosen Law Firm's website or call the toll-free number for more information, emphasizing the importance of selecting qualified legal counsel to ensure proper representation in the lawsuit and avoid inexperienced intermediaries.
See More
Benchmark Initiates Coverage on Snowflake with Buy Rating
- Coverage Initiation: Benchmark has initiated coverage on Snowflake (SNOW) with a Buy rating and a $190 price target, highlighting its strong performance in the generative AI space, showcasing robust technology leadership and high AI defensibility.
- Market Potential: With a total addressable market (TAM) exceeding $500 billion, Snowflake has consistently outperformed market expectations over the past few years, demonstrating strong profitable growth fundamentals that align with Benchmark's SaaS investment framework.
- R&D Investment: Snowflake's R&D spending has averaged 22.8% of revenue since fiscal 2020, enabling products like the Gen2 Standard Warehouse and Adaptive to lead in price-performance metrics within the data warehousing sector, further solidifying its market position.
- Strategic Acquisitions: Through strategic acquisitions, Snowflake has enhanced its competitive edge, particularly in data pipeline, migration, and observability market expansions, which analysts believe will drive its long-term success in the enterprise AI revolution.
See More
Snowflake Appoints New Chief Revenue Officer
- Executive Change: Snowflake announced the appointment of Jonathan Beaulier as Chief Revenue Officer, replacing Mike Gannon who left for personal reasons, which led to a 2% drop in premarket trading; however, Beaulier expressed enthusiasm about leveraging his decade of experience to drive growth.
- Revenue Responsibilities: In his new role, Beaulier will oversee Snowflake's revenue and go-to-market teams, aiming to enhance customer value through an AI-first strategy, thereby strengthening the company's competitive position in the market.
- Financial Guidance Reaffirmed: Following Beaulier's promotion, Snowflake reaffirmed its financial guidance for fiscal year 2027, expecting product revenue between $1.262 billion and $1.267 billion for Q1, and $5.66 billion for the full year, indicating confidence in future growth prospects.
- Market Reaction: Despite the reaffirmation of financial guidance post-executive change, the market reacted negatively with a stock price decline, reflecting investor concerns regarding the company's growth potential moving forward.
See More
Snowflake Inc. Faces Class Action Lawsuit for Securities Violations
- Class Action Reminder: The Schall Law Firm has alerted investors about a class action lawsuit against Snowflake Inc. (NYSE:SNOW) for violations of §§10(b) and 20(a) of the Securities Exchange Act, concerning securities purchased between June 27, 2023, and February 28, 2024, which may have resulted in investor losses.
- False Statements Allegation: The complaint alleges that Snowflake made false and misleading statements regarding customer demand and potential revenues, indicating that its tiered storage pricing and efficiency gains could negatively impact revenues and consumption, thereby harming investor interests.
- Investor Losses: Following the revelation of the truth about Snowflake, investors suffered damages, and the Schall Law Firm encourages affected investors to contact them before April 27, 2026, to participate in the lawsuit and seek recovery of their losses.
- Legal Representation Information: The class action has not yet been certified, meaning investors are not represented by an attorney during this period; the Schall Law Firm offers free consultations to ensure investors understand their rights and take necessary actions.
See More
Snowflake Appoints New CRO and Reaffirms Financial Guidance
- Executive Transition: Snowflake has appointed Jonathan Beaulier as Chief Revenue Officer effective March 31, 2026, who has been instrumental in driving the company's growth since 2016, and is expected to leverage his extensive experience to lead the company into its next growth phase.
- Revenue Responsibility: Beaulier will oversee the company's revenue and go-to-market teams, aiming to drive higher growth in a rapidly changing market through his trusted position within the sales team and passion for driving change.
- Financial Guidance Reaffirmed: Snowflake reaffirms its financial guidance for the first quarter and full-year of fiscal 2027, indicating the company's stability and confidence in continued growth amid the current economic environment, with no changes to its guidance philosophy.
- Customer Base Expansion: Snowflake currently serves over 13,300 customers, including some of the world's largest companies, highlighting its leadership position in the AI Data Cloud space and its ongoing ability to attract new clients, which is expected to further drive revenue growth.
See More
