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Investing.com - Raymond James raised its price target on Snowflake Inc. (NYSE:SNOW) to $230.00 from $212.00 while maintaining an Outperform rating on the stock. According to InvestingPro data, analyst targets for the $66.7 billion market cap company range from $150 to $440, with the stock currently trading at $200.39.
The price target increase follows Snowflake’s F2Q26 earnings report, which Raymond James described as a "beat and raise" quarter. Snowflake shares rose approximately 10% in after-hours trading following the results, building on an impressive 79.6% return over the past year. While the company is not yet profitable, analysts tracked by InvestingPro forecast positive earnings of $1.22 per share this fiscal year.
Raymond James noted positive commentary regarding traction with Cortex and artificial intelligence more generally. The firm highlighted that 25% of use cases deployed during the quarter involved AI.
The investment firm’s updated price target reflects its assessment of Snowflake’s performance and growth potential following the quarterly results.
Raymond James continues to maintain its Outperform rating on Snowflake stock, indicating its positive outlook on the company’s prospects.
In other recent news, Snowflake Inc . reported robust second-quarter fiscal 2026 earnings, showcasing non-GAAP earnings per share of $0.35, which exceeded the consensus estimate of $0.27. The company also achieved total revenue of $1.14 billion, surpassing the expected $1.09 billion and reflecting a 32% year-over-year growth, an increase from the previous quarter’s 26% growth. Following these strong earnings, several firms adjusted their price targets for Snowflake. Citizens JMP raised its price target to $283 from $260, maintaining a Market Outperform rating. RBC Capital increased its target to $275 from $250, citing the company’s strong quarter with accelerated product revenue growth. Goldman Sachs also raised its price target to $260 from $230, noting the company’s stronger-than-expected results and growth in key metrics. Additionally, JPMorgan set a new target of $255, emphasizing Snowflake’s advancements in artificial intelligence and machine learning. These developments highlight the positive reception from analysts regarding Snowflake’s recent performance and innovation.
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