Overview
- Bank of America raised its price target to $205 on Tuesday and kept a Buy rating, saying it raised the valuation multiple because it has more confidence in Snowflake’s execution rather than changing near-term forecasts.
- Snowflake’s own guidance frames the test: Q1 product revenue is $1.262 billion to $1.267 billion and full-year fiscal 2027 product revenue is about $5.66 billion, figures investors will use to judge acceleration.
- Analyst views are wide-ranging with price targets from roughly $200 up to $325, reflecting disagreement over how quickly AI features like Cortex Code will translate into higher customer consumption and revenue.
- The stock is down about 20–25% year-to-date and, despite short-term rebounds, technical measures such as the February ‘death cross’ signal lingering downside risk for traders.
- Key items for the May 27 release include the size of any product revenue beat versus guidance, detailed usage and monetization metrics for Cortex Code and Snowflake Intelligence, and traction from integrations with partners such as Anthropic, Google Cloud and OpenAI.