Snowflake ( (SNOW) ) has risen by 22.59%. Read on to learn why.
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Snowflake’s stock has seen a remarkable rise of 22.59% over the past week, reaching a new 52-week high of $249.99. This surge follows the company’s impressive second-quarter earnings report for fiscal 2026, which exceeded both sales and earnings expectations. The cloud-based data storage company is benefiting from the booming artificial intelligence market, which has driven its year-to-date stock increase to over 56%. Analysts have responded positively, raising their price targets and maintaining strong buy ratings, citing Snowflake’s robust product growth and AI-driven demand.
Several analysts have increased their price targets for Snowflake, reflecting their confidence in the company’s growth potential. Piper Sandler’s Brent Bracelin raised the target to $285, while Wells Fargo’s Michael Turrin and Scotiabank’s Patrick Colville also lifted their targets, highlighting Snowflake’s clean Q2 beat and its ability to sustain growth by expanding customer usage. The company’s strong performance in its core analytics and data warehouse business, along with new product offerings, has contributed to this positive outlook.
Snowflake’s future looks bright as it continues to capitalize on the large market opportunity in AI and analytics. The company reported a 32% year-over-year increase in product revenue, with a strong net revenue retention rate of 125%. Its remaining performance obligations grew to $6.9 billion, indicating a promising pipeline. Analysts remain optimistic about Snowflake’s ability to expand margins and sustain growth, making it a strong buy in the eyes of many investors.