Snowflake price target raised to $272 from $262 at Morgan Stanley

Morgan Stanley analyst Sanjit Singh raised the firm’s price target on Snowflake (SNOW) to $272 from $262 and keeps an Overweight rating on the shares. Q2 product revenue growth accelerated to 31.5% year-over-year on a days-adjusted basis, Q3 product revenue guidance came in ahead of consensus and the outlook for FY26 now calls for 27% year-over-year growth, versus 25% previously, the analyst tells investors. The firm continues to view Snowflake as the “best way to play the data modernization theme in Software,” the analyst added.