In a report released yesterday, Koji Ikeda from Bank of America Securities maintained a Buy rating on Snowflake, with a price target of $275.00.
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Koji Ikeda has given his Buy rating due to a combination of factors tied to Snowflake’s strategic expansion in data engineering and AI. He views the acquisition of TensorStax as a meaningful enhancement to Snowflake’s AI Data Cloud, enabling customers to build and manage data pipelines more efficiently via AI agents. By simplifying and accelerating the ingestion and transformation of data, Snowflake can drive higher platform usage, support stronger product revenue growth, and deepen customer dependence on its ecosystem, which in turn raises switching costs. Ikeda also believes that automating labor-intensive data engineering tasks will allow technical teams to focus on higher-value strategic work, further increasing the platform’s utility and stickiness.
In his view, these developments reinforce the broader thesis that Snowflake is positioned to capture market share over the long term within AI-driven data analytics and business intelligence. While he expects limited near-term financial impact from the TensorStax deal given the startup’s early stage, he sees significant strategic value in how it can strengthen existing AI tools such as Cortex Code and accelerate Snowflake’s product roadmap. Ikeda is looking to the upcoming F4Q26 earnings call for additional clarity on integration details, customer overlap, and roadmap acceleration, but his current assessment already supports a constructive outlook. Consequently, he reiterates a Buy rating with a $275 price objective, implying substantial upside from the current share price.
In another report released on February 2, RBC Capital also maintained a Buy rating on the stock with a $300.00 price target.
SNOW’s price has also changed moderately for the past six months – from $205.770 to $156.710, which is a -23.84% drop .