Barclays increased SNOW’s price target citing faster product velocity and early AI-driven usage growth after investor day.
Barclays raised its price target for Snowflake (NYSE:SNOW) to $285 from $272 while maintaining an Equal Weight rating. The firm cited faster product velocity and positive early effects from Cortex Code on usage as key drivers.
Prior to the update, Snowflake’s price target stood at $272, with analysts closely watching AI integration and profitability timelines. The firm noted GAAP profitability arrived significantly earlier than expected, reinforcing confidence in the stock’s trajectory.
Truist also lifted its price target for SNOW to $300 from $275, maintaining a Buy rating. Both firms highlighted strong customer feedback on Snowflake’s AI tools accelerating workload creation and platform expansion.