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Snowflake (NYSE:SNOW) jumped over 10% in pre-market trading after reporting Q1 FY26 adjusted EPS of $0.26, topping the $0.21 consensus, and revenue of $1.04 billion, above the $1.01 billion Street view.
The cloud data-warehousing specialist also lifted its full-year product revenue guide to $4.325 billion from $4.28 billion, reflecting confidence in sustained growth.
Piper Sandler's Brent Bracelin boosted his price target to $215 from $175 on Snowflake's highest conviction growth idea status, citing a $39 million beat on guidance and 26% product-revenue growth.
Wolfe Research's Alex Zukin raised his target to $230, lauding impressive execution in margin expansion and strategic MSFT partnerships. Goldman Sachs' Kash Rangan echoed the bullishness, lifting his target to $230 while spotlighting Snowflake's evolution into an end-to-end data and AI platform ahead of its June 25 Summit.
Why It Matters Investors should note Snowflake's ability to outpace peers on growth and free-cash-flow margins even amid macro uncertainty, positioning it as a leading data-and-AI enabler.
This article first appeared on GuruFocus.