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Investing.com - Citizens JMP has raised its price target on Snowflake Inc . (NYSE:SNOW) to $260.00 from $245.00 while maintaining a Market Outperform rating. The cloud data platform company, currently trading at $211.58, has demonstrated strong momentum with a 63% return over the past year according to InvestingPro data.
The price target increase represents a 6.1% upside from the previous target and reflects Citizens JMP’s continued confidence in the cloud data platform company.
The new $260 price target implies a calendar year 2026 estimated enterprise value to revenue multiple of 16.3x, up from the previous 15.3x, and an enterprise value to free cash flow multiple of 63x, increased from 59x.
Citizens JMP noted that this valuation represents a significant premium to Snowflake’s peer group calendar year 2026 estimated enterprise value to revenue multiple, which the firm believes is justified by Snowflake’s large total addressable market and strong leadership team.
In a hypothetical upside case presented by Citizens JMP, applying the same revenue multiple to their calendar year 2027 revenue estimate would imply a price of approximately $315 for Snowflake stock.
In other recent news, Snowflake Inc. has appointed Chris Niederman as Senior Vice President of Alliances & Channels, effective July 21, 2025. Niederman, who brings over 30 years of experience, will lead Snowflake’s global channel and partner ecosystem. Meanwhile, several analyst firms have reiterated their positive outlook on Snowflake’s stock. Truist Securities maintained its Buy rating with a $235 price target, citing strong survey results and continued growth momentum in Snowflake’s data cloud offerings. Stifel also reiterated its Buy rating and $220 price target after investor meetings highlighted Snowflake’s data engineering capabilities and product expansion strategy. UBS reaffirmed its Buy rating with a $265 price target, noting robust industry investments in the data layer that could benefit Snowflake. These developments underscore the company’s strategic moves and positive analyst perspectives, reflecting continued confidence in Snowflake’s growth potential.
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