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On Thursday, BTIG analysts raised the price target for Snowflake Inc . (NYSE: NYSE:SNOW) stock to $235 from $225, while maintaining a Buy rating. The stock, currently trading at $209.60 and near its 52-week high of $214.83, has delivered impressive returns with a 56% gain over the past year. This adjustment follows Snowflake’s Investor Presentation at the Snowflake Summit earlier this week.
BTIG analysts noted that the presentation did not provide updates on long-term growth targets or financial trends. However, they found the company’s tone on new product initiatives and business pace encouraging, supported by strong revenue growth of 27.5% in the last twelve months. The focus on upgrades to the core data warehouse platform and a shift towards more automation and simplicity through AI were highlighted as positive developments.
The acquisition of Crunchy Data was seen as potentially enhancing Snowflake’s role in developing next-generation applications. Analysts also found the commentary on growth in Iceberg Tables and insights on recent sales hiring trends promising for near and medium-term growth.
BTIG previously upgraded Snowflake stock on February 20, 2025, citing the company’s dual focus on making AI both easy and possible. The analysts reiterated their Buy rating, emphasizing Snowflake’s product capabilities and roadmap.
In other recent news, Snowflake Inc. has seen a series of positive evaluations from various analysts following its Summit 2025 and Investor Day events. TD Cowen raised its price target for Snowflake to $240, emphasizing advancements in artificial intelligence and data management as key factors. RBC Capital also increased its price target to $250, citing Snowflake’s competitive positioning and strategic focus on AI despite the absence of new financial updates due to the search for a new CFO. Truist Securities maintained its Buy rating with a $235 price target, pointing to Snowflake’s product development and growing influence in the enterprise AI market. Piper Sandler reiterated an Overweight rating and a $215 price target, highlighting the company’s potential in AI monetization under new CEO Sridhar Ramaswamy. Additionally, Citi reaffirmed its Buy rating and a $245 price target, noting Snowflake’s efforts to push AI products and strategic pricing strategies. These developments indicate strong confidence in Snowflake’s future growth prospects and its position in the AI sector.
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