Snowflake is in focus after Argus Research boosted its price target to $450 and reaffirmed a Buy rating, while other tech names in the analyst roundup saw mixed revisions. Snowflake closed at $356.47 on Thursday, suggesting about 26% upside if the new target proves credible. The update could attract more buy-side attention ahead of near-term catalysts.
Snowflake reported accelerating AI-driven growth, lifting product revenue and guiding higher for 2027. The stock climbed past $380 while SNOU jumped, amplifying the move with 2x leverage. Analysts raised targets, underscoring expectations of durable AI monetization despite higher AI-related margin trade-offs.
Snowflake posted Q2 revenue of $1.55B and adjusted EPS of $0.62, topping estimates. The stock jumped about 24% in pre-market trading to roughly $380 as investors priced in stronger growth and profitability in the AI data cloud space. The result supports a favorable view on Snowflake’s AI data cloud moat, with a potential near-term rerating if guidance stays constructive.
Snowflake heads into its Q2 print with shares near $310 and a chart-driven setup. A breakout above $330 could spark a run toward $400, while $290 offers a pullback point. Street expects 45 cents EPS, up ~28% YoY, as AI investments support growth; a weak report could trigger a near-term pullback.
Top analysts shifted targets across several names, with Cantor Fitzgerald lifting Snowflake's PT to $405 and keeping an Overweight. Snowflake closed at $328, implying potential near-term upside if the target translates into demand. The broader pace of upgrades supports a constructive mood for cloud/data names, potentially aiding SNOW in the coming weeks.
A DOJ guilty plea ties a prominent hacker to breaches affecting Snowflake customers, underscoring cloud-security risks. The case references AT&T, LendingTree, and Ticketmaster as targets, highlighting potential trust and cost pressures for Snowflake clients. In the near term, SNOW may exhibit volatility as investors reassess cyber-risk and the need for enhanced security offerings.