Snowflake

SNOW · NYSE

$319.61+$4.26 (+1.35%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $315.35

SNOW analyst rating

BuyConsensus of 43 analysts over the last 12 months. 91% rate it a buy.

Strong buy0
Buy39
Hold4
Underperform0
Sell0

12-month price target · 50 analysts

Average $433.80 (+35.7% upside)

Low: $111.10
Now: $319.61
High: $551.25

Upgrades and downgrades

The latest rating actions, newest first

SNOW analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 12, 2026	Maintains	Buy	$450.00	63%
Macquarie	Sep 4, 2026	Maintains	Neutral	$200.00 → $350.00	53%
Goldman Sachs	Sep 4, 2026	Maintains	Buy	$300.00 → $436.00	58%
Argus Research	Sep 4, 2026	Maintains	Buy	$300.00 → $450.00	61%
JP Morgan	Sep 3, 2026	Maintains	Overweight	$285.00 → $426.00	67%
Jefferies	Sep 3, 2026	Maintains	Buy	$385.00 → $430.00	60%
Scotiabank	Sep 3, 2026	Maintains	Sector Outperform	$320.00 → $440.00	54%
Raymond James	Sep 3, 2026	Maintains	Outperform	$275.00 → $425.00	55%
Piper Sandler	Sep 3, 2026	Maintains	Overweight	$320.00 → $450.00	72%
Evercore ISI Group	Sep 3, 2026	Maintains	Outperform	$360.00 → $430.00	59%

The case for and against

Updated Oct 15, 2026

Bull case

Snowflake is benefiting from a strong combination of durable core demand and rising AI-driven consumption, with product revenue of $1,491M in the quarter growing 37% Y/Y and total revenue of $1,546M up 35% Y/Y. Its fundamentals are reinforced by $9.00B of RPO, a 126% net retention rate, and record adds of 49 new $1M customers, suggesting both expansion within existing accounts and continued enterprise adoption. The outlook is further supported by a cloud-native architecture that separates compute and storage, broadening use cases beyond data warehousing into data engineering and AI while improving customer stickiness through data sharing and consolidation.

Bear case

Snowflake is facing a weakening moat as cloud competitors advance their own data warehouse and analytics offerings, while legacy vendors retain lock-in advantages that make migration to the cloud slow and costly. Its consumption-based model can amplify revenue volatility because customer usage of compute, storage, and data transfer is tied to seasonality and budget behavior, and the lack of true hybrid functionality may frustrate partial-migration customers. Despite strong growth, the company has recorded GAAP net losses in each period since inception, so any slowdown in Revenue Growth, Net Revenue Retention, or Global 2000 Customer Count could pressure sentiment and its valuation multiple.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.