On July 30, Snowflake rose 4.25% in after-hours trading, trading at 290.6 USD/share, with turnover of $48.6845 million. The rally was driven by competitor Databricks recently completing a $3 billion funding round at a valuation of $188 billion, triggering a broad revaluation across the AI data platform sector.

Multiple investment banks have raised their price targets on Snowflake in recent weeks. UBS lifted its target to $370, RBC Capital Markets raised to $313 while maintaining an Outperform rating, Deutsche Bank upgraded to $300, and Jefferies maintained a Buy rating with a $310 target, noting that Databricks' valuation surge implies approximately 14% further upside for Snowflake. The analyst consensus target price stands at approximately $299.73.

Additionally, Snowflake recently launched Cortex AI Gateway and several AI security innovations designed to help enterprises securely scale their agentic AI ecosystems, further strengthening its competitive position in enterprise-grade AI infrastructure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)