Analyst Sanjit Singh of Morgan Stanley maintained a Buy rating on Snowflake, reducing the price target to $245.00.
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Sanjit Singh has given his Buy rating due to a combination of factors that indicate Snowflake’s demand backdrop remains robust and resilient. He highlights the reacceleration in product revenue growth, which modestly exceeded guidance and consensus, alongside strong net retention, faster growth in remaining performance obligations and committed RPO, and solid new customer additions, all pointing to a healthy and durable consumption environment.
Singh’s positive view is further reinforced by management’s Q1 and FY27 product revenue guidance, which both come in ahead of market expectations and outline a credible path back toward roughly 30% growth next year, with additional upside from margins and free cash flow. He also underscores the early traction of Snowflake’s AI offerings, particularly Cortex Code and Snowflake Intelligence, which are seeing rapid adoption and are poised to unlock new use cases and incremental workloads, supporting his Overweight stance on the stock.
According to TipRanks, Singh is a 2-star analyst with an average return of 0.2% and a 45.32% success rate. Singh covers the Technology sector, focusing on stocks such as Snowflake, Akamai, and Gitlab.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $275.00 price target.