Snowflake stock climbs as analysts highlight AI strength and customer adoption momentum

Snowflake Positioned For Growth, Customers Highlight AI And Data Strengths - Snowflake (NYSE:SNOW)

JPMorgan analyst Mark R Murphy maintained an Overweight rating on Snowflake Inc. (NYSE:SNOW) with a price forecast of $255 ahead of its earnings release after the closing bell on Wednesday, Dec. 3. The analyst shared insights from a recent discussion with a Fortune 150 Snowflake customers. Key Takeaways The analyst writes that customers highlight Snowflake as a unified data layer that aggregates information across disparate business areas, replacing their previous on-premises BI stack and providing end-to-end visibility for analytics and customers. Snowflake is central to the firm's AI and data strategy, forming the core of its tech stack and influencing the AI budget, although no major AI platform decisions have been made yet due to evolving market conditions, adds the analyst. Murphy notes that the company leverages multiple Snowflake offerings, including Snowpark for performance gains similar to Spark-based solutions, zero-copy data sharing for client reporting, and is experimenting with Cortex to integrate with certain applications, while still using Databricks for other workloads. Analyst View The analyst says that they remain confident in Snowflake's long-term prospects, driven by strong secular tailwinds. The company's rapid product innovation, particularly in AI/ML, and its strategic position as a key data layer provide a favorable competitive edge, adds the analyst. The analyst estimates adjusted EPS of $1.15 in 2026 and $1.41 in 2027. Price Action: SNOW shares are up 2.43% at $265.95 at the last chekc on Wednesday. Now Read: Snowflake Set To Beat Q3 Estimates Based On Insider Leaks: Leading Analysts Remain Bullish Image: Shutterstock SNOWSnowflake Inc$266.112.47%OverviewMarket News and Data brought to you by Benzinga APIs

RBC Capital reiterates Outperform rating on Snowflake stock at $300 price target By Investing.com

Investing.com - RBC Capital has reiterated its Outperform rating and $300.00 price target on Snowflake Inc. (NYSE:SNOW) following the company's latest quarterly results. The stock is currently trading at $265, near its 52-week high of $280.67, after delivering an impressive 71.62% return year-to-date according to InvestingPro data. Snowflake delivered what RBC described as a "beat-and-raise quarter" with a slight deceleration in product revenue that was offset by revenue performance obligation (RPO) acceleration. The company's revenue grew 28.37% over the last twelve months, though InvestingPro data shows it's not yet profitable during this period. The firm highlighted that Snowflake's artificial intelligence business crossed $100 million in annual recurring revenue (ARR), achieving this milestone a quarter earlier than expected. While Snowflake guided for a slight deceleration in Q4/26 product revenue, RBC suggested that outperformance similar to the current quarter could potentially point to an acceleration to 30%+ product revenue growth. RBC Capital maintains its bullish stance on Snowflake, stating that the company is well positioned to benefit from an increase in AI workloads. In other recent news, Snowflake Inc . reported its third-quarter 2025 earnings, surpassing analysts' expectations. The company achieved an earnings per share (EPS) of $0.39, which was significantly higher than the forecasted $0.31, representing a 25.81% positive surprise. Revenue for the quarter reached 1.21 billion dollars, slightly exceeding the anticipated 1.18 billion dollars, resulting in a 2.54% surprise. These results reflect Snowflake's strong performance in the market and have contributed to investor confidence. The company's ability to outperform earnings and revenue estimates highlights its strategic execution and financial health. Analysts and investors are likely to view these developments positively, considering the company's ability to exceed market expectations. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.