Snowflake Inc. (SNOW) PT Raised to $230 at Wolfe Research

Wolfe Research analyst Alex Zukin raised the price target on Snowflake Inc. (NYSE: SNOW) to $230.00 (from $180.00) while maintaining a Outperform rating.

The analyst comments: "SNOW impressive execution across product revenue and margins demonstrates their ability to maintain robust growth while significantly improving operational efficiency. The company's multiple growth vectors, including core warehousing strength, expanding AI adoption, and strategic partnerships with MSFT, position SNOW well for sustainable growth. The stock currently trades at 12.4x CY26 EV/Sales (including the AH move), a 13% premium to Heavyweight growth peers (companies expected to grow revenue 20%+ Y/Y in CY25) whose average CY26 EV/Sales multiple is ~11x. Compared to its one-year average FY +2 multiple of 10x, SNOW trades at a premium but relative to its three-year average multiple of ~13x, SNOW still trades at a slight discount. We view SNOW's premium is warranted as we believe the company can sustain mid-to-high 20% growth with improving FCF margins, while benefiting from enterprise AI tailwinds and its strategic position in cloud data warehousing. Our $230 PT is based on a EV/CY26 base case estimate multiple of 15x and 14x on our upside estimates, as we gain incremental confidence in the company's ability to deliver durable revenue and an expanding margin profile. SNOW remains Outperform rated."

You May Also Be Interested In

• Incyte (INCY) PT Raised to $105 at Truist Securities
• Apple investigating exposure to Tata Electronics data breach, full analysis underway - Reuters
• Lockheed, RTX, Boeing, L3Harris expected to meet with Trump - WSJ