On July 27, Snowflake rose 3.55% in regular trading, trading at $275.17/share, with turnover of $45.67 million. The stock gained momentum as multiple investment banks raised their price targets amid a broader revaluation of AI data platform companies.

On the news front, competitor Databricks recently completed a $3 billion strategic financing round at a valuation of $188 billion, prompting analysts to reassess peer valuations across the sector. Jefferies noted that Databricks' valuation surge implies Snowflake could rally an additional 14%. RBC Capital Markets raised its price target from $284 to $313, maintaining an Outperform rating, while Deutsche Bank and UBS lifted their targets to $300 and $370, respectively. Snowflake currently trades at approximately 18 times forward sales, with the analyst consensus target at roughly $299.73.

Additionally, RBC highlighted Snowflake CEO Sridhar Ramaswamy's 1 million-share performance stock unit award as reinforcing confidence in the company's AI-driven growth strategy. Oppenheimer also maintained an Outperform rating, citing Snowflake's competitive edge in production-grade agentic AI at scale.

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