Oppenheimer Maintains Outperform Rating on Snowflake (SNOW), Lifts PT

On Thursday, Oppenheimer raised its price target on Snowflake Inc. (NYSE:SNOW) to $225 from $210, while maintaining an Outperform rating on the shares.

The firm noted that Snowflake delivered strong FQ1 2026 results due to broad-based demand and consistent consumption trends.

Oppenheimer Raises SNOW Price Target to $225, CEO Highlights 'Another Strong Quarter'

A software engineer at work, surrounded by a wall of computer monitors connected to a ‘Data Cloud’ platform.

The company reported total revenue of $1 billion for the quarter, which was up 26% year-over-year. Product revenue specifically reached $996.8 million and also represented a 26% year-over-year increase. Snowflake now serves 606 customers with trailing 12-month product revenue greater than $1 million, a 27% year-over-year increase, and has 754 Forbes Global 2000 customers, which reflects a 4% year-over-year growth. Sridhar Ramaswamy, CEO of Snowflake, commented on the results, stating that the company delivered ‘another strong quarter.’

Oppenheimer also highlighted better-than-expected activity in Snowpark and Dynamic Tables, along with robust AI adoption, as indicators that newer products are resonating well with customers. The firm is bullish on Snowflake and considers it a top pick. Oppenheimer anticipates potential upside, particularly if macroeconomic conditions remain stable. Snowflake Inc. (NYSE:SNOW) provides a cloud-based data platform for various organizations globally.

While we acknowledge the potential of SNOW to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNOW and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.