(Updated to include Wedbush commentary)
Wedbush raised its price target on Snowflake (SNOW) to $230 from $210, citing increased confidence in the company's growth trajectory over the next 12-18 months and a higher valuation multiple.
The company also raised its product revenue guidance, a move likely to be well-received by investors as it signals steady demand despite broader macroeconomic uncertainty, analysts led by Daniel Ives wrote in a Thursday note.
The brokerage views the company as a key second-derivative AI Revolution player, poised to capitalize on accelerating AI use cases and the expansion of its AI pipeline throughout 2026 and beyond.
Snowflake has an average rating of overweight and mean price target of $217.68, according to analysts polled by FactSet.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 197.70, Change: +18.58, Percent Change: +10.37
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