On August 27, Snowflake rose 3.21% in pre-market trading, trading at $325.0 per share, with turnover of $972,600.

On the news front, Citi raised its target price on Snowflake to $395 on the same day. Over the prior week, UBS ($425), Bank of America ($395), Truist ($375), Benchmark ($360), and several other institutions have intensively raised their target prices while maintaining buy ratings. The core thesis centers on two factors: first, a broad expansion in software sector valuation multiples as market concerns over AI disruption continue to ease; second, accelerating adoption of Snowflake's AI products, particularly the CoCo coding agent and Snowflake Intelligence. Oppenheimer projects Q2 product revenue of approximately $1.47 billion, roughly 3%-4% above consensus and representing over 34% year-over-year growth. The company is scheduled to report fiscal Q2 results on September 2.

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