Snowflake (SNOW) Stock Falls After Q3 Beat: AI Deals, Analyst Targets and Outlook as of December 5, 2025
Snowflake shares traded around $230 on December 5, down 2–3% intraday and nearly 20% below recent highs after an 11% plunge on weak margin guidance. Q3 revenue rose 29% to $1.21 billion, beating estimates, while product revenue also climbed 29%. Management forecast slower Q4 growth and cut margin targets. The company reported a $100 million AI revenue run-rate and a new $200 million partnership with Anthropic.