Monness analyst Brian White maintained a Buy rating on Snowflake (SNOW – Research Report) today and set a price target of $245.00.
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Brian White has given his Buy rating due to a combination of factors including Snowflake’s strong financial performance and promising future outlook. The company reported a 26% year-over-year revenue growth in the first quarter of fiscal year 2026, surpassing both the firm’s and the market’s expectations. Additionally, Snowflake’s product revenue exceeded guidance, and the company expanded its customer base significantly, indicating robust demand for its offerings.
Moreover, Snowflake’s positive call highlighted healthy consumption trends and strong bookings, particularly in the technology and retail sectors. The company’s innovations, such as Snowpark and Dynamic Tables, have shown strong performance, and its AI/ML features are gaining traction among customers. Despite a challenging macroeconomic environment, Snowflake is well-positioned to capitalize on secular tech trends, which supports the raised price target and Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $219.00 price target.