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On Thursday, RBC Capital Markets adjusted its financial outlook for Snowflake Inc . (NYSE: NYSE:SNOW), increasing the price target to $236 from the previous $221, while reiterating an Outperform rating on the shares. The adjustment follows Snowflake’s reported earnings, which showcased a robust start to the fiscal year, with product revenue growth surpassing expectations. According to InvestingPro data, the stock appears to be trading above its Fair Value, with analyst targets ranging from $115 to $440.
The company’s product revenue saw a 26% increase, or 28% when adjusted for the leap year, which outperformed the consensus prediction of a 22% rise. This aligns with Snowflake’s impressive 29.2% revenue growth over the last twelve months, reaching $3.6 billion. Analysts at RBC Capital noted that Snowflake’s business has not been affected by tariffs or broader macroeconomic factors. The firm’s guidance for FY/26 revenue was revised upwards, exceeding the initial beat. This revision suggests that growth could accelerate in the second half of the fiscal year, driven by increasing momentum.
RBC Capital’s analysts remain optimistic about Snowflake’s potential, citing the recent performance as a reason for maintaining the Outperform rating. The price target hike to $236 reflects higher estimates based on the company’s current trajectory. While the company is not yet profitable, analysts forecast positive earnings of $1.28 per share for FY2026. Snowflake has been identified as RBC Capital’s top large-cap pick in the sector, underscoring the firm’s confidence in Snowflake’s ongoing growth and market position. Get deeper insights into Snowflake’s valuation and growth prospects with InvestingPro’s comprehensive research report, which includes 8 additional ProTips and extensive financial analysis.
In other recent news, Snowflake Inc. has seen a series of positive developments from various analyst firms, reflecting strong financial performance and growth prospects. The company reported impressive first-quarter results, surpassing expectations with robust product revenue and profitability metrics. This performance prompted several firms to adjust their price targets upward. Truist Securities raised its price target to $235, citing Snowflake’s strategic positioning in artificial intelligence and strong fiscal start. Similarly, Monness Crespi Hardt increased its target to $245, highlighting a promising forecast for the second quarter and an uplift in full-year product revenue guidance.
Stifel and Loop Capital both raised their price targets to $220, acknowledging Snowflake’s outperformance and improved operating margins. Loop Capital emphasized Snowflake’s potential in cloud migration and AI data management. Cantor Fitzgerald made a significant adjustment, lifting its price target from $183 to $242, driven by Snowflake’s consistent ability to exceed financial forecasts and a revised valuation approach. These developments illustrate a broad consensus among analysts on Snowflake’s growth trajectory and market potential, with firms maintaining positive ratings on the company’s stock.
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