Snowflake (SNOW) is experiencing growth due to a larger customer base, ongoing innovation, and strong partnerships. In the second quarter of fiscal 2026, SNOW added 533 customers, including 15 Global 2000 companies, with 50 customers generating over $1 million in revenue. Partnerships with major cloud providers like Microsoft Azure are driving growth in cloud analytics, with Azure being the fastest-growing cloud for Snowflake.

However, Snowflake faces tough competition from industry giants like Amazon (AMZN) and Alphabet (GOOGL) in the cloud data and analytics space. Amazon’s AWS platform secured agreements with major companies like PepsiCo, Airbnb, and Nissan Motor. Alphabet’s Google Cloud is growing in the cloud analytics market with BigQuery and a partnership with NVIDIA for GPU offerings.

Snowflake’s stock has seen a 59.1% increase year-to-date, outperforming the Computer & Technology sector. With a forward 12-month Price/Sales of 15.58X, SNOW trades at a premium compared to the industry average. Analysts expect a 40.96% increase in SNOW’s fiscal 2026 earnings. Snowflake currently holds a Zacks Rank #3 (Hold) status.

In other news, Snowflake has announced a partnership with Palantir to integrate AI Data Cloud with Palantir’s platforms. This collaboration will help joint customers like Eaton develop unified, AI-driven data systems to enhance operational efficiency and customer experience. Additionally, Zacks Investment Research has identified 5 stocks set to double, including a disruptive force with notable growth and resilience, and a modern omni-channel platform poised for growth.

Read more at Nasdaq: SNOW Benefits From Expanding Partner Base: A Sign for More Upside?