Snowflake (SNOW) stock surged more than 20% yesterday after Wall Street raised price targets following the company’s strong beat-and-raise results. SNOW stock also reached a fresh 52-week high of $249.99 after beating both sales and earnings expectations for the second quarter of fiscal 2026.
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Snowflake is a cloud-based data storage company and has experienced solid growth due to the rapidly growing artificial intelligence (AI) market. Year-to-date, SNOW stock has already surged more than 56%.
Analysts Boost Snowflake’s Price Targets on Solid Growth Potential
Piper Sandler analyst Brent Bracelin raised the price target on SNOW from $215 to a new Steet High of $285, implying 18.3% upside potential from current levels. This reflects strong product growth, AI-driven demand, and increased sales efforts, signaling confidence in Snowflake’s growth through 2026-27.
Similarly, Wells Fargo analyst Michael Turrin lifted the price target from $250 to $275, citing a clean Q2 beat and raise and revenue reaccelerating to over 30% growth. Nonetheless, Turrin highlighted the key question as whether Snowflake can sustain growth by expanding customer usage into new workloads in the second half of the year.
At the same time, Scotiabank analyst Patrick Colville increased SNOW’s price target from $230 to $280, implying 16.2% upside. Colville believes Snowflake is making “the right moves” in AI innovation. He is encouraged by Snowflake’s strong beat-and-raise results despite high expectations.
Finally, Needham analyst Mike Cikos raised the price target to $280 (from $230), citing the large market opportunity and continued runway Snowflake has in core Analytics. He highlighted the company’s Q2 beat, with 32% year-over-year product revenue growth, well above the guided 25% and last quarter’s 26%, driven by several contributing factors.
To conclude, all analysts maintained their Buy ratings on SNOW stock and were encouraged by the strong quarterly performance and growing future potential.
Is SNOW Stock a Buy, Hold, or Sell?
On TipRanks, SNOW stock commands a Strong Buy consensus rating based on 33 Buys and three Hold ratings. The average Snowflake price target of $264.56 implies 9.8% upside potential from current levels.
