On June 10, Snowflake rose 3.22% in regular trading, trading at $246.99/share, with trading volume of $280 million. The rebound was driven by a confluence of positive catalysts including a major cloud infrastructure deal and multiple investment bank upgrades.

On the news front, the company recently announced a five-year, $60 billion strategic partnership with AWS to procure Graviton computing resources and GPU-accelerated AI infrastructure, marking its largest cloud spending commitment to date and signaling aggressive AI expansion ambitions. Concurrently, multiple investment banks raised their target prices: Deutsche Bank lifted its target from $250 to $300, UBS raised its target from $325 to $370, both maintaining Buy ratings; Oppenheimer maintained its Outperform rating, highlighting the companys agentic AI platform strategy as offering long-term differentiation and significant monetization opportunities.

The upgrades follow Snowflakes Q1 revenue of $1.39 billion, representing 33% year-over-year growth that exceeded expectations. While recent insider selling by directors had weighed on sentiment, the fundamental catalysts appear to be reasserting dominance over near-term technicals.

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