Snowflake Stock (SNOW) Continues to Gain as Analysts Cheer Its Earnings Beat

Cloud data warehousing firm Snowflake (SNOW) jumped over 10% in pre-market trading after posting strong Q1 FY26 results, beating revenue and profit forecasts. Adjusted earnings reached $0.26 per share, topping analysts’ estimate of $0.21. Also, revenue rose 25.5% to $1.04 billion, exceeding the expected $1.01 billion. Looking ahead, Snowflake raised its product revenue forecast for Fiscal Year 2026 to $4.325 billion, above its earlier estimate of $4.28 billion. Wall Street analysts are showing confidence in Snowflake by raising their price targets while sticking to their Buy ratings.

Analysts See More Upside and Big Potential in AI and Cloud

After Snowflake reported its Q1 results, several analysts have weighed in on Snowflake’s performance.

To begin with, Piper Sandler analyst Brent Bracelin raised Snowflake’s price target from $175 to $215 while maintaining an Overweight rating. He highlighted Snowflake as one of his “highest conviction growth ideas” for 2025, expecting the company to deliver around 25% growth and strong cash flow margins. Despite an uncertain economy, the analyst remains impressed with Snowflake’s solid Q1 performance, beating guidance by $39 million and showing 26% product growth. He continues to view Snowflake as a top “data and AI enabler” with potential for sustained growth and strong free cash flow.

Similarly, Wolfe Research analyst Alex Zukin raised Snowflake’s price target from $180 to $230 and kept an Outperform rating. He said Snowflake showed “impressive execution” in both product revenue and profit margins, proving it can grow steadily while improving efficiency. Zukin highlighted Snowflake’s strong data warehousing business, “expanding AI adoption, and strategic partnerships with (MSFT)” as key factors for continued growth. While Snowflake’s stock trades at a higher price than some of its peers, he believes this is justified because the company can maintain growth and boost its cash flow. Zukin also contends that Snowflake’s leading position in cloud data and AI will help it remain strong.

Further, Goldman Sachs analyst Kash Rangan raised the price target for Snowflake to $230 from $205, while keeping a Buy rating. Rangan remains impressed with the company’s Q1 earnings report. He is positive about Snowflake growing into a complete data system that manages everything from gathering data to running AI tasks. He believes that, with faster product updates and steady growth, the company can keep growing at a mid-20% rate and maintain strong cash flow. Analyst Rangan views the Snowflake Summit and Analyst Day events from June 2-5 as powerful catalysts that could spark fresh news and boost the stock.

Is SNOW a Good Buy Right Now?

Turning to Wall Street, analysts have a Strong Buy consensus rating on SNOW stock based on 32 Buys, six Holds, and zero Sell assigned in the past three months, as indicated by the graphic below. The average SNOW stock price target is $204.40, implying an upside potential of 14.11%.

See more SNOW analyst ratings