Wall Street Bullish on Snowflake (SNOW) Ahead of Fiscal Q3 2026 Results

​Snowflake Inc. (NYSE:SNOW) is one of the Best Cloud Stocks to Buy Now. Wall Street is bullish on the stock as the company gets close to releasing its fiscal Q3 2026 results, expected on December 3. Recently, on November 20, Derrick Wood from TD Cowen reiterated a Buy rating on Snowflake Inc. (NYSE:SNOW) with a price target of $275. Earlier on November 17, Raimo Lenschow from Barclays had also reiterated a Buy rating on the stock and raised the price target from $255 to $290.

​Management expects fiscal Q3 2026 product revenue in the range of $1.125 billion to $1.130 billion, reflecting 25% to 26% year-over-year growth. Moreover, the non-GAAP operating income margin is expected to be around 9%.

​Analyst Wood of TD Cowen anticipates the company to deliver solid performance in the upcoming quarters. While he expects the company to exceed growth targets, he notes the performance might not be as exceptional as the previous quarters. The future growth of Snowflake Inc. (NYSE:SNOW) is expected to be driven by its Cloud Data Warehouse (CDW) and Data Engineering segments, which have shown strong demand.

​Snowflake Inc. (NYSE:SNOW) is a technology company that specializes in providing a cloud-based platform that provides data cloud and artificial intelligence solutions. The company relies on cloud-native architecture, which consists of three integrated layers, including compute, storage, and cloud services.

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 this cheapest AI stock.

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