--- title: "Snowflake Stock Rallies On Datadog, Fortinet's Strong Q1 Results" type: "News" locale: "en" url: "https://longbridge.com/en/news/285599753.md" description: "Snowflake Inc (NYSE:SNOW) shares surged 10.35% to $154.21 on Thursday, driven by strong Q1 results from Datadog and Fortinet, which exceeded expectations and raised their 2026 outlooks. This optimism reflects robust demand for cloud and AI-driven tools despite macro uncertainties. Datadog reported $1.006 billion in revenue, a 32% increase, while Fortinet's revenue reached $1.85 billion, up 20% year-over-year. Snowflake's stock shows near-term momentum but faces longer-term challenges, trading below key moving averages. Key support is at $145.00 and resistance at $156.50." datetime: "2026-05-07T18:35:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285599753.md) - [en](https://longbridge.com/en/news/285599753.md) - [zh-HK](https://longbridge.com/zh-HK/news/285599753.md) --- # Snowflake Stock Rallies On Datadog, Fortinet's Strong Q1 Results **Snowflake Inc** (NYSE:SNOW) shares are jumping on Thursday as investors pile into cloud and cybersecurity names following upbeat results from Datadog and Fortinet. - Snowflake shares are climbing with conviction. Why is SNOW stock up today? Both companies delivered first‑quarter numbers that comfortably beat expectations and raised their full‑year 2026 outlooks, creating a wave of optimism across enterprise software and cloud‑infrastructure stocks. Snowflake, while not a pure cybersecurity play, is benefiting from the broader surge in confidence around cloud spending and AI‑driven data workloads. ## What Sparked The Move The rally across the group is being fueled by strong earnings from sector peers that showed enterprise demand for cloud, security and AI‑enabled tools remains resilient despite macro uncertainty. **Datadog Inc** (NASDAQ:DDOG) set the tone with a standout quarter: revenue reached $1.006 billion, up 32% from last year and well ahead of estimates, while adjusted earnings also topped expectations. The company continued to expand its base of large customers and highlighted growing adoption of AI‑powered features across its platform. Datadog then reinforced the bullish sentiment by issuing second‑quarter guidance above consensus and raising its full‑year revenue and earnings outlook. **Fortinet Inc** (NASDAQ:FTNT) added even more momentum after reporting another strong quarter of its own. The company posted adjusted earnings of 82 cents per share, far above expectations, and delivered $1.85 billion in revenue, representing 20% year‑over‑year growth. Billings climbed sharply, and management pointed to the convergence of networking and security, along with an increasingly complex threat landscape amplified by AI, as key drivers of demand. Fortinet also raised its full‑year revenue and earnings guidance, signaling confidence in continued strength throughout 2026. ## Snowflake’s Chart: Short-Term Heat, Long-Term Gravity Technically, the stock is showing real near-term momentum: Snowflake is now trading 8.9% above its 20-day SMA ($141.49). But the longer-term scoreboard still leans cautious. Shares remain 1.6% below the 50-day SMA ($156.63) and well below the 100-day ($179.70) and 200-day ($206.02), a reminder that one strong session doesn't erase a damaged trend. Momentum traders will like the cleaner read from MACD — above its signal line with a positive histogram — suggesting downside pressure is easing and the rebound has follow-through. Trend followers, however, will keep pointing to the structural headwinds: the 20-day SMA is still below the 50-day SMA, and the February death cross (50-day below 200-day) remains in effect. Translation: the stock is sprinting, but it's still running uphill. Key levels are straightforward and, in this market, likely to be respected: - **Key Support**: $145.00 — a nearby pivot zone near the 20-day/short-term trend area where buyers have recently defended pullbacks - **Key Resistance**: $156.50 — lines up closely with the 50-day area, a common spot where rebounds can stall ## SNOW Shares Are Soaring **SNOW Price Action:** Snowflake shares were up 10.35% at $154.21 at the time of publication on Thursday, according to Benzinga Pro. **Read Also: Stock Market Today: Do, S&P 500, Nasdaq Futures Gain As Trump Celebrates Record Gains— Fortinet, Whirlpool, Core Scientific In Focus (UPDATED)** _Image: Grand Warszawski/Shutterstock_ ### Related Stocks - [DDOG.US](https://longbridge.com/en/quote/DDOG.US.md) - [SNOW.US](https://longbridge.com/en/quote/SNOW.US.md) - [FTNT.US](https://longbridge.com/en/quote/FTNT.US.md) - [CLOU.US](https://longbridge.com/en/quote/CLOU.US.md) - [SNOY.US](https://longbridge.com/en/quote/SNOY.US.md) - [SNOU.US](https://longbridge.com/en/quote/SNOU.US.md) - [DOGD.US](https://longbridge.com/en/quote/DOGD.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [WHR.US](https://longbridge.com/en/quote/WHR.US.md) - [CORZ.US](https://longbridge.com/en/quote/CORZ.US.md) - [WHR-A.US](https://longbridge.com/en/quote/WHR-A.US.md) - [CORZZ.US](https://longbridge.com/en/quote/CORZZ.US.md) - [CORZW.US](https://longbridge.com/en/quote/CORZW.US.md) ## Related News & Research - [Dear Snowflake Stock Fans, Mark Your Calendars for May 27](https://longbridge.com/en/news/287088000.md) - [Dana Investment Advisors Inc. 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