Brian White, an analyst from Monness, maintained the Buy rating on Snowflake. The associated price target was raised to $275.00.
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Brian White has given his Buy rating due to a combination of factors including Snowflake’s strong performance in the third quarter of FY26, where the company exceeded revenue expectations with a 29% year-over-year growth. Despite a slight miss on earnings per share, Snowflake’s revenue growth and strategic partnerships, such as the one with Anthropic, position it well for future success.
Additionally, Snowflake’s rapid expansion in AI, with a significant increase in customers using its AI/ML features, highlights its potential in this growing sector. The company has also shown robust growth in its remaining performance obligations and customer base, which further supports the positive outlook. These factors, combined with the company’s ability to secure large deals and maintain a steady net revenue retention rate, underpin the Buy rating.
In another report released today, BTIG also reiterated a Buy rating on the stock with a $312.00 price target.
Based on the recent corporate insider activity of 256 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.