Snowflake (SNOW – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mike Cikos from Needham maintained a Buy rating on the stock and has a $215.00 price target.
Mike Cikos has given his Buy rating due to a combination of factors including Snowflake’s stable consumption trends and the positive impact of new product traction. This has led management to confidently project revenue growth that surpasses sell-side forecasts, with an expected acceleration in growth during the latter half of fiscal year 2026.
Additionally, the achievement of Snowpark reaching its 3% milestone as a portion of product revenue, along with the strong adoption of data engineering and AI/ML features, supports this optimistic outlook. The presence of large customers exceeding their commitments and operating on-demand also provides a potential boost to future bookings. Furthermore, anticipated improvements in acquiring new customers, driven by changes in go-to-market strategies and performance management, contribute to the belief that Snowflake is poised to outperform under the leadership of CEO Sridhar Ramaswamy.
Cikos covers the Technology sector, focusing on stocks such as Dynatrace, Okta, and Tenable Holdings. According to TipRanks, Cikos has an average return of 12.3% and a 54.86% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $203.00 price target.