Snowflake’s Strong Growth and AI Potential Justify Buy Rating and $235 Price Target

Analyst Gray Powell of BTIG reiterated a Buy rating on Snowflake (SNOW – Research Report), boosting the price target to $235.00.

Gray Powell has given his Buy rating due to a combination of factors including Snowflake’s impressive financial performance and promising future outlook. The company reported outstanding first-quarter results, significantly surpassing both internal and market expectations in product revenue growth. This achievement is particularly noteworthy given the broader economic concerns during the period. Additionally, Snowflake’s updated guidance for fiscal year 2026 reflects a conservative estimate, suggesting potential for further growth.
Furthermore, the adoption of artificial intelligence is driving more workloads into cloud environments, positioning Snowflake as an early beneficiary of this trend. The company’s strong performance and increased confidence in its forecasts led to an upward revision of the price target to $235 per share. With Snowflake ranking highly among its peers in terms of growth rates and potential upside from AI initiatives, Powell reiterates a Buy rating, highlighting the company’s robust growth prospects.

In another report released today, Barclays also maintained a Buy rating on the stock with a $219.00 price target.

Based on the recent corporate insider activity of 212 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNOW in relation to earlier this year.