Snowflake Inc. Receives Buy Rating and Price Target
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 08 2026
0mins
Should l Buy SNOW?
Source: Yahoo Finance
- Buy Rating Maintained: Bank of America Securities reaffirmed a Buy rating for Snowflake Inc. on February 6, setting a price target of $275, reflecting confidence in its future growth and likely attracting more investor interest.
- AI Agent Deployment: On February 4, Snowflake announced that United Rentals rolled out a new AI agent based on Snowflake Intelligence across over 1,600 branches, enabling sales and operational teams to quickly obtain actionable insights through natural language queries, thereby enhancing work efficiency.
- Accelerating AI Innovation: United Rentals is leveraging Snowflake Cortex Code to expedite the testing and development of additional AI agents, indicating Snowflake's crucial role in driving customer AI innovation and further solidifying its market position.
- Data Cloud Ecosystem: Snowflake's cloud data warehousing software supports various use cases, including data lakes, data engineering, and data sharing, helping customers break down data silos to maximize data value and strengthen its competitive edge in data management.
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Analyst Views on SNOW
Wall Street analysts forecast SNOW stock price to rise
34 Analyst Rating
32 Buy
2 Hold
0 Sell
Strong Buy
Current: 172.910
Low
237.00
Averages
285.29
High
325.00
Current: 172.910
Low
237.00
Averages
285.29
High
325.00
About SNOW
Snowflake Inc. is a data cloud and artificial intelligence company. Its platform is the technology that powers the AI Data Cloud, enabling customers to consolidate data into a single source of truth to drive meaningful insights, apply artificial intelligence (AI) to solve business problems, build data applications, and share data and data products. It provides its platform through a customer-centric, and consumption-based business model. Its cloud-native architecture consists of three independently scalable but logically integrated layers across compute, storage, and cloud services. The compute layer provides dedicated resources to enable users to simultaneously access common data sets for many use cases with minimal latency. The storage layer ingests massive amounts and varieties of structured, semi-structured, and unstructured data to create a unified data record. Its ClearQuery platform allows users to rapidly search, explore, and analyze their data using natural language queries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Reaction: The S&P North American Technology Software Index has plunged over 30% into bear market territory, reflecting investor fears that AI technologies could replace traditional software, although many experts disagree with this outlook.
- Expert Opinions: Nvidia CEO Jensen Huang and Wedbush analyst Dan Ives argue that the software industry is not in decline and that enterprises are unlikely to abandon decades of investment in software and infrastructure, creating buying opportunities for certain tech stocks.
- Stock Analysis: Companies like Microsoft, CrowdStrike, Snowflake, Salesforce, and Palantir are viewed as having strong growth potential in the AI sector, despite their stock prices having fallen from peaks, with analysts remaining optimistic about their future performance.
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- AI Tool Launch: Anthropic has introduced the Claude Cowork AI agent designed to simplify mundane tasks such as searching, organizing, and assembling files, although this has raised concerns among investors about the potential disruption to traditional software and digital automation providers.
- Market Reaction: The S&P North American Technology Software Index has plunged over 30%, entering bear market territory, reflecting investor fears that AI technologies could replace traditional software, adversely affecting stock performance in the sector.
- Expert Opinions: Despite the prevailing market pessimism, Nvidia CEO Jensen Huang and Wedbush analyst Dan Ives argue that enterprises are unlikely to abandon their long-term software and infrastructure investments, suggesting that the current sell-off is overdone and may present buying opportunities for high-quality tech stocks.
- Investment Opportunities: As AI technology continues to evolve, companies like Microsoft, CrowdStrike, and Snowflake, which have heavily invested in AI integration and product development, are expected to drive market demand, and despite their stock prices having fallen, they are still viewed as potential investment opportunities.
See More
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- Investigation Background: Johnson Fistel is investigating whether Snowflake Inc. complied with federal securities laws, focusing on the potential recovery of investor losses, which could impact the company's reputation and shareholder confidence.
- Stock Price Plunge: Following the financial results announcement on February 28, 2024, Snowflake's stock price dropped from $230 to $188.28, a decline of $41.72 or over 18%, resulting in significant losses for investors.
- Changes in Customer Behavior: During the earnings call, company management discussed changes in customer behavior and the impact of certain product developments, which adversely affected the company's outlook and may lead to poor future performance.
- Legal Services: Johnson Fistel is a nationally recognized shareholder rights law firm specializing in securities fraud and investor rights, having recovered approximately $90.725 million for clients, demonstrating its strength and influence in securities litigation.
See More
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- Extreme Price Volatility: Analysts point out that the extreme price action in software stocks has led to unrealistic expectations regarding AI disruption, which may prompt a rotation back into higher-quality companies, thereby improving portfolio performance.
- AI Profitability Gains: Companies in the S&P 500 that have adopted AI have seen net margins expand by approximately 2 to 3 percentage points more than their peers, indicating that AI technology is already delivering productivity gains and reflecting that corporate adoption is enhancing profitability.
- ETF Performance Decline: The State Street SPDR S&P Software & Services ETF (NYSE:XSW) is down 20.58% year-to-date, illustrating the overall pessimistic sentiment towards the software sector, despite some companies potentially benefiting from AI infrastructure demand.
See More
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- Investigation Launched: Pomerantz LLP is investigating claims on behalf of investors regarding potential securities fraud or unlawful business practices by Snowflake Inc., indicating significant concerns over corporate governance and investor rights.
- Earnings Report Impact: On February 28, 2024, Snowflake announced its fourth-quarter and full fiscal year 2024 financial results, along with guidance for fiscal year 2025, where management highlighted changes in customer behavior and product developments that negatively impacted the company's outlook.
- Stock Price Decline: Following this news, Snowflake's stock price fell by $41.72, or 18.14%, closing at $188.28 on February 29, 2024, reflecting market apprehension regarding the company's future performance.
- Legal Context: Pomerantz LLP, a prominent firm in securities and antitrust class litigation with over 85 years of experience, is committed to fighting for the rights of victims of securities fraud and corporate misconduct, underscoring its dedication to investor protection.
See More
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- Mixed Market Reactions: Despite the significant increase in capital spending, Amazon and Microsoft's shares have dropped 12% and 16% respectively, while Alphabet's stock is down less than 1% and Meta's has risen by 1%, reflecting investor concerns about the timing of returns on these investments.
- Infrastructure Investment Opportunities: With spending accelerating, investors are drawn to
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