TD Cowen analyst Derrick Wood has reiterated their bullish stance on SNOW stock, giving a Buy rating yesterday.
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Derrick Wood has given his Buy rating due to a combination of factors tied to Snowflake’s growth profile and emerging AI opportunities. He highlights that revenue growth has re-accelerated to around 30% with a solid beat versus expectations, and that the multiyear outlook, including the FY27 organic growth guide above consensus, provides a strong baseline even before factoring in significant upside from new AI products.
He also points to robust customer metrics, including faster expansion in large enterprise deals and a strong pace of new customer additions, as evidence of effective go-to-market execution that should fuel future consumption. In his view, Snowflake is becoming a key platform for AI workloads through offerings like Snowflake Intelligence and Cortex Code, which are already driving higher usage and displacing other software, supporting the case for sustained growth and justifying a Buy rating despite a somewhat conservative free cash flow margin guide.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $250.00 price target.
Based on the recent corporate insider activity of 242 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.