Cloud-based data platform Snowflake (SNOW) is on a roll after delivering impressive Q4 FY25 results on February 26, beating estimates on both revenue and profit. The stock jumped 9.21% to close at $166.19. Following the earnings release, Snowflake stock forecast received a boost from a few Wall Street analysts’ price target hikes.
Analysts Predict More Upside for SNOW
After Snowflake’s Q4 results, several analysts have weighed in on Snowflake’s performance. To begin with, Raymond James analyst Simon Leopold increased the price target on SNOW from $188.00 to $196.00, which implies a nearly 18% upside potential from current levels.
The five-star highlighted Snowflake’s strong fourth-quarter results, which beat expectations and led to a guidance boost. Leopold noted that iceberg tables remained a fairly strong near-term catalyst for the stock. To explain, iceberg tables are open-source data formats that allow customers to store and manage large datasets more easily. Leopold noted that these open-source data tables have increased workloads on Snowflake’s platform, expanding revenues for the company.
Similarly, another analyst, Piper Sandler analyst Brent Bracelin, sees Snowflake as a top pick for 2025. He raised Snowflake’s price target to $215 from $208 and reiterated an Overweight rating, calling it a high-quality data software company.
The analyst pointed to strong customer spending, which led to a $35 million revenue beat and 28% year-over-year product growth. He was also impressed by the fast growth of new products like Snowpark, a developer framework that lets users process data on Snowflake using Python, Java, and Scala. It brought in over $100 million in revenue for the year. The analyst noted that demand for the company’s products remains solid, with customer retention improving and remaining performance obligations (cRPO) growing 27% year-over-year, the same rate as last year.
Is SNOW a Good Buy Right Now?
After a 29% decline in SNOW shares over the past year, analysts have a Strong Buy consensus rating on SNOW stock based on 26 Buys, four Holds, and zero Sell ratings. Also, the average Snowflake price target of $204.89 implies 23.3% upside potential from current levels. Given the strong Q4 results, upcoming reports from more analysts could lead to updated estimates.
