Piper Sandler analyst Brent Bracelin raised the firm’s price target on Snowflake (SNOW) to $285 from $215 and keeps an Overweight rating on the shares. The firm notes Product growth accelerated to 31.5% year-over-year at $4B-plus run-rate scale, aided by core consumption and incremental AI tailwinds. The 22% year-to-date surge in sales and marketing headcount hints at even stronger growth ambitions. Piper cites higher estimates and target EV/free cash flow multiple of 32-times factoring in rising confidence that the new AI product roadmap could continue to resonate with large enterprises, which gives the firm an upward bias to the growth trajectory into 2026-2027.
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