Argus Raises its Price Target on Snowflake (SNOW)

Snowflake Inc. (NYSE:SNOW) is one of the 10 Best American Stocks to Buy and Hold for the Next Decade.

On May 29, 2026, Argus raised the firm’s price target on Snowflake Inc. (NYSE:SNOW) to $300 from $250 and maintained a Buy rating on the shares. Argus said Snowflake’s data management systems have become “critically fundamental” to enterprises building generative AI agentic applications, calling the company a “picks and shovels” play as “the GenAI revolution continues to explode.”

Citi also raised the firm’s price target on Snowflake Inc. (NYSE:SNOW) to $320 from $260 and maintained a Buy rating on the shares. Citi described the company’s Q1 report as “thesis-changing,” saying Snowflake’s revenue acceleration shows it is successfully monetizing AI workloads with Cortex Code.

Argus Raises its Price Target on Snowflake (SNOW)

On May 27, 2026, Snowflake Inc. (NYSE:SNOW) reported Q1 non-GAAP EPS of 39c, ahead of the consensus estimate of 32c. Revenue totaled $1.39B, above the consensus estimate of $1.32B. CEO Sridhar Ramaswamy said Snowflake delivered a “milestone quarter,” with product revenue of $1.33B, up 34% year-over-year. Ramaswamy also said AI remains a powerful tailwind and called Q1 a clear inflection point in Snowflake’s shift toward the Agentic Enterprise.

Snowflake Inc. (NYSE:SNOW) provides a cloud-based data platform for organizations in the United States and internationally.

While we acknowledge the risk and potential of SNOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNOW and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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