Snowflake stock target raised to $250 by DA Davidson

On Thursday, DA Davidson analysts adjusted their outlook on Snowflake Inc . (NYSE:SNOW), increasing the price target to $250 from the previous $200, while reiterating a Buy rating on the shares. With analyst targets ranging from $115 to $440, the current price of $179.12 suggests significant potential upside. The revision follows Snowflake’s release of its first-quarter 2026 earnings, which showcased robust performance and product revenue growth exceeding expectations.

The company’s earnings report revealed a strong core business, which has continued to drive significant revenue increases, with InvestingPro data showing impressive 29.21% revenue growth and a robust 66.72% gross profit margin. Management emphasized the ongoing strong consumption within the core business and noted the rapid adoption of Snowflake’s latest artificial intelligence and machine learning (AI/ML) products.

Analysts at DA Davidson highlighted the alignment between Snowflake’s performance and the data observed in their DaVinci Developer Data trends. Conversations with the Data Engineering Network (DEN) further supported the positive assessment of Snowflake’s market position and growth trajectory. According to InvestingPro, the company maintains a FAIR financial health score, with liquid assets exceeding short-term obligations. Discover 8 more exclusive ProTips and comprehensive analysis in the Pro Research Report.

The analyst’s commentary underscored Snowflake’s status as a top pick within the software sector, bolstered by the latest financial results. The raised price target reflects confidence in Snowflake’s continued momentum and its ability to capitalize on its innovative AI/ML offerings.

Investors and market watchers will likely keep a close eye on Snowflake’s stock performance in the wake of this updated analysis and the company’s promising advancements in the competitive software industry.

In other recent news, Snowflake Inc. reported impressive first-quarter results, with product revenue reaching $996.8 million, marking a 26% year-over-year increase. This surpassed management’s guidance and analyst estimates, contributing to a positive outlook for fiscal year 2026, with product revenue guidance revised upwards to $4,325 million. Analysts from Evercore ISI, BTIG, Goldman Sachs, JPMorgan, and Barclays (LON:BARC) have all raised their price targets for Snowflake, reflecting confidence in the company’s performance and future prospects.

Evercore ISI increased its price target to $232, highlighting Snowflake’s strong operating margins and new major contracts. BTIG raised its target to $235, citing the company’s optimistic fiscal outlook and growth in cloud data analytics driven by AI adoption. Goldman Sachs set its target at $230, noting the company’s resilience against macroeconomic challenges and strategic partnerships in AI. JPMorgan adjusted its target to $225, emphasizing Snowflake’s strong fundamentals and innovative product offerings. Barclays lifted its target to $219, maintaining an Overweight rating due to Snowflake’s growth momentum and product revenue success.

These developments underscore the industry’s recognition of Snowflake’s robust growth trajectory and strategic positioning in the cloud data sector.

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