What Happened?
Shares of cloud data platform provider Snowflake (NYSE: SNOW) jumped 3.1% in the afternoon session after peer, MongoDB reported third-quarter 2025 financial results that surpassed Wall Street's expectations and raised its full-year earnings forecast. For the quarter, MongoDB announced total revenue of $628.3 million, an 18.7% increase from the same period last year, beating estimates of $594.3 million. Adjusted earnings per share came in at $1.32, which was also well ahead of the $0.79 analysts had predicted. The database platform company also added 2,600 new customers during the quarter, bringing its total to 62,500. Looking ahead, MDB showed confidence by issuing fourth-quarter revenue guidance that was 6.5% above analyst expectations and increasing its earnings guidance for the full year by nearly 30% at the midpoint.
The shares closed the day at $261.08, up 3.8% from previous close.
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What Is The Market Telling Us
Snowflake’s shares are quite volatile and have had 15 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 8 days ago when the stock gained 3.5% on the news that renewed enthusiasm for Alphabet reinvigorated the artificial intelligence trade, propelling a market rebound heading into the Thanksgiving holiday. The Nasdaq index jumped 2.6% and the S&P 500 gained 1.6%, driven by a 5% rally in Alphabet following the announcement of its upgraded Gemini 3 AI model. This optimism spilled over into the broader tech sector, lifting shares of Broadcom, Micron, and Palantir significantly. The rally built on momentum from the previous trading session, sparked by the New York Fed president keeping the door open for a December interest rate cut.
Snowflake is up 65.3% since the beginning of the year, and at $260.42 per share, it is trading close to its 52-week high of $277.14 from November 2025. Investors who bought $1,000 worth of Snowflake’s shares 5 years ago would now be looking at an investment worth $889.75.
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