BTIG Upgrades Snowflake Inc. (SNOW) to Buy

BTIG analyst Gray Powell upgraded Snowflake Inc. (NYSE: SNOW) from Neutral to Buy with a price target of $220.00.

The analyst commented: "To summarize, after two-plus years of dealing with cloud optimization headwinds, our recent fieldwork is pointing towards an improving demand backdrop in CY2025. In addition, we think Snowpark will become a more meaningful growth driver in FY’26. And we see potential for AI workloads moving into production by mid-2025 to create incremental tailwinds to consumption in 2H’F26. Lastly, we came away from our recent work with more confidence in the stability of the competitive environment. Looking to the FQ4’25 print, we expect a standard SNOW product revenue beat for FQ4. And we think the company will guide conservatively for FY26. Specifically, we think SNOW will start off the new year with a product revenue growth guide in the 21% - 22% range, slightly below the street at 23.6%. That said, we think SNOW could end up posting growth in the 25%+ range as the year plays out."

For an analyst ratings summary and ratings history on Snowflake Inc. click here. For more ratings news on Snowflake Inc. click here.

Shares of Snowflake Inc. closed at $186.56 yesterday.

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