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On Thursday, Truist Securities updated its outlook on Snowflake Inc . (NYSE:SNOW) shares, raising the price target to $235 from the previous $210 while maintaining a Buy rating. The adjustment follows Snowflake’s impressive performance, which was highlighted by a strong fiscal start and upward revisions for the fiscal year 2026. According to InvestingPro data, analyst targets for Snowflake range from $115 to $440, with the stock currently trading at $179.12, showing a 16% gain year-to-date.
Snowflake reported robust financial results, surpassing expectations and signaling a positive trend for the upcoming year. The company’s success was attributed to sustained core momentum and increased adoption of new workloads. During the earnings call, there were no indications that macroeconomic uncertainties had affected customer consumption patterns. InvestingPro data reveals impressive revenue growth of 29.2% over the last twelve months, with a healthy gross profit margin of 66.7% and strong liquidity position, as indicated by a current ratio of 1.78.
Truist Securities analysts expressed confidence in Snowflake’s strategic positioning, particularly in the burgeoning field of artificial intelligence (AI). The firm’s analysts believe that Snowflake is successfully laying the groundwork for a solid go-to-market strategy in the AI sector, which is rapidly evolving.
The raised price target and reiterated Buy rating are based on the belief that Snowflake’s current trajectory positions it well for future growth. The company’s ability to navigate through uncertainty and its commitment to expanding its market presence were key factors in Truist Securities’ optimistic assessment.
Investors and market watchers will likely keep a close eye on Snowflake’s stock performance in light of this updated guidance from Truist Securities. The raised price target reflects the firm’s increased expectations for Snowflake’s financial performance and market potential in the AI landscape.
In other recent news, Snowflake Inc. has seen several analysts raise their price targets following strong financial performance in the first quarter of fiscal year 2026. Monness Crespi Hardt increased its 12-month price target to $245, citing robust earnings and an optimistic forecast for the next quarter, along with an increase in the full year’s product revenue guidance. Stifel raised its target to $220, noting Snowflake’s product revenue exceeded estimates by 4% and highlighted operational efficiencies contributing to improved margins. Loop Capital also set a target of $220, recognizing Snowflake’s impressive revenue and profitability, and expressing confidence in the company’s long-term growth potential. Cantor Fitzgerald made a significant adjustment, raising its target from $183 to $242, driven by Snowflake’s consistent outperformance and efficient business model. Needham increased its target to $230, acknowledging the company’s strong quarter and raised full-year outlook, which reflects management’s confidence in the current consumption environment and new product traction. These developments indicate a positive sentiment among analysts regarding Snowflake’s financial trajectory and strategic initiatives.
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