** Shares of cloud company Snowflake SNOW.N rise 8.5% premarket to $194.17 after co raises FY26 product revenue forecast

** SNOW beats Q1 results estimates, as per data compiled by LSEG

** Co's Q2 product revenue forecast also higher than estimates

** At least 10 brokerages raise PT including JP Morgan and Barclays

** Needham says SNOW provides "material customer value" as a cloud-based data warehouse, and is pursuing meaningful expansion

** Truist says co has a unique technology advantage in data cloud

** 36 out of 47 analysts rate stock as "buy" or higher, 10 "hold" and one "sell"; median PT is $220 - LSEG

** As of last close, SNOW up 16% YTD, compared with Dow Jones US Technology sector index's .DJUSTC decline of 3.1%

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))