Shares of Snowflake Inc. (NYSE:SNOW) soared to a 52-week high of $209.86, fueled by robust earnings, upbeat analyst sentiment, and growing confidence in the company’s long-term positioning in cloud data infrastructure. The stock has returned 51% over the past year, supported by year-over-year revenue growth of 27.5%, reaching $3.84 billion.
Analysts are increasingly bullish on Snowflake’s outlook. Twenty-four analysts have revised earnings estimates upward, and price targets now range from $150 to $440. Citi raised its target from $235 to $245 with a Buy rating, highlighting strong customer demand and deal wins, particularly in the financial sector. Macquarie lifted its target from $160 to $190, citing a 26% jump in product revenue that beat guidance, though it maintained a Neutral stance due to a modest dip in net revenue retention and cautious cash flow expectations.
The stock’s rally also comes amid new strategic partnerships. Snowflake announced a three-year agreement with the LA28 Olympic and Paralympic Games and Team USA, using its AI Data Cloud to enhance athlete training and fan engagement through centralized data analytics. Separately, Canva has deepened its use of Snowflake’s platform to drive enterprise growth and marketing optimization.
Despite these tailwinds, some analysts remain measured. Argus reiterated a Hold rating, pointing to uncertainty around returns from Snowflake’s growing investments in AI and machine learning. While those initiatives may not immediately impact revenue, they are seen as essential for long-term innovation.
As Snowflake doubles down on data cloud leadership, investors are closely watching margin expansion and continued revenue momentum. Technical signals suggest the stock may be entering overbought territory, but the broader sentiment remains optimistic as the company capitalizes on the accelerating shift to cloud-based analytics.