Canaccord Bullish on Snowflake (SNOW) Following Strong Fiscal 2025 Performance

Snowflake Inc. (NYSE:SNOW) is included in our list of the 11 best software stocks to invest in according to billionaires.

Canaccord Bullish on Snowflake (SNOW) Following Strong Fiscal 2025 Performance

As of March 9, 2026, Snowflake Inc. (NYSE:SNOW) retains confidence from 90% of the covering analysts, with the consensus price target ($240.00) implying a 31.26% upside potential. The sentiment holds even as the stock is down in line with the industry, having fallen roughly 17% since the start of 2026.

Amid industry headwinds tied to AI, the company’s latest quarter and fiscal 2026 performance helped bolster analyst confidence.

Analysts at Canaccord described the quarter as a strong one for the company. Specifically, the firm believes the performance in the quarter eliminated the lingering concerns surrounding the company’s product cycle and competitive positioning.

Accordingly, Canaccord trimmed its price target on Snowflake Inc. (NYSE:SNOW) from $270 to $240, while reiterating a “Buy” rating.

Marking a 1-percentage-point growth acceleration, Snowflake Inc. (NYSE:SNOW) recorded fourth-quarter growth of 30%. The growth came in 2.20% above the Street estimates. Looking ahead, management expects over 26% organic growth in FY27, while FCF margin is projected slightly below.

Snowflake Inc. (NYSE:SNOW) provides a cloud-based data platform that helps organizations store, manage, and share data across multiple public clouds. Its platform, called the Snowflake Data Cloud, supports diverse workloads including data engineering, analytics, machine learning, and secure collaboration.

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 this cheapest AI stock.

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