Overview
- The company reported a fiscal Q1 revenue beat and raised full‑year product revenue guidance to $5.84 billion, signaling stronger-than-expected demand for its platform.
- After the June 2 Investor Day, major brokerages including BofA and Truist lifted price targets to about $300 and Barclays raised its target to $285 based on CoCo traction.
- Snowflake is rolling out Cortex Code (CoCo) across desktop, VS Code, Excel, Slack and mobile to help customers build workflows, migrate workloads and create AI solutions from enterprise data.
- Reuters reported a reported five‑year, $6 billion collaboration with AWS for AI infrastructure and integrations, a development described as supportive but not independently confirmed by the company.
- Investors remain focused on whether AI features will drive sustained consumption and protect margins as management targets GAAP profitability by Q4 of fiscal 2028 and expands its addressable market forecasts.