SNOW
The Street is piling in
Snowflake just got the kind of analyst love that makes a stock feel like it showed up to the party in a tux. Rosenblatt, Needham, Cantor Fitzgerald, Canaccord Genuity, BTIG, DA Davidson, and JPMorgan all kept bullish ratings and lifted price targets after the company’s second-quarter results and guidance.
Why everyone suddenly sounds so enthusiastic
The common thread here is simple: AI. Analysts are pointing to stronger product revenue growth, healthy net revenue retention, and rising customer adoption of Snowflake’s AI tools like CoCo and CoWork. Translation: customers are not just dabbling — they’re moving more data onto Snowflake and using more of the platform.
The stock is acting like it got the memo early
SNOW jumped 21.5% to $371.50, hit an intraday 52-week high of $384.56, and has now climbed 71% year to date. That still leaves it a bit shy of the old all-time high near $429, but the Street is clearly betting the stock can keep grinding higher if AI usage keeps flowing through to revenue.
Big picture
This is one of those classic “show me the monetization” moments. Investors don’t just want AI buzzwords — they want proof the buzzwords turn into recurring consumption. For now, Snowflake is giving them exactly that, and the analysts are rewarded for their optimism.