William Power, an analyst from Robert W. Baird, reiterated the Buy rating on Snowflake (SNOW – Research Report). The associated price target remains the same with $200.00.
William Power has given his Buy rating due to a combination of factors including Snowflake’s strong financial performance and positive future outlook. The company reported robust fourth-quarter results with product revenue increasing by 28% year-over-year, surpassing expectations. This growth was complemented by an optimistic forecast for fiscal year 2026, with product revenue expected to grow by 24%, which is slightly above market expectations.
Additionally, Snowflake’s operating margins are anticipated to improve, and the company is seeing stabilization in its net revenue retention rates. The growing contribution from new products and the company’s investment in data ingestion tools further bolster its long-term prospects. Furthermore, Snowflake’s expanding customer base, particularly in AI/ML capabilities and its strengthened partnership with Microsoft, are seen as positive indicators for future growth.
Power covers the Technology sector, focusing on stocks such as Dynatrace, Palantir Technologies, and Akamai. According to TipRanks, Power has an average return of 16.1% and a 56.54% success rate on recommended stocks.
In another report released on February 27, Loop Capital Markets also maintained a Buy rating on the stock with a $215.00 price target.