Snowflake Inc (NYSE:SNOW) is drawing continued bullish sentiment from analysts, who see strong growth potential driven by its core business and expanding AI capabilities.

Core Growth and AI Products Drive Upside

Stifel reiterated its Buy rating and $205 price forecast on Snowflake after recent meetings with management, highlighting confidence in the company's growth outlook despite the stock trading well below its recent highs.

The analyst said Snowflake continues to generate strong core growth in analytics and data engineering, supported by low penetration even among large, established customers.

Management pointed to AI offerings such as Cortex Code, Intelligence and SnowWork as key drivers that can expand usage and increase revenue over time by enabling faster workflows and broader adoption within organizations.

Strong Positioning Against Emerging AI Competition

Stifel also noted Snowflake's strong integration with customers, along with its security and governance capabilities, strengthens its competitive position against emerging AI tools.

Technical Analysis

Snowflake is trading 4.8% below its 20-day SMA and 22% below its 100-day SMA, keeping the stock in a technically weak posture despite today's bounce. Shares are up 3.08% over the past 12 months and are currently positioned closer to their 52-week low than their 52-week high.

The RSI is at 38.30, which sits in neutral territory but leans toward "weak momentum" rather than a strong rebound setup. Meanwhile, MACD is at -4.0506 and remains below its signal line at -3.4111, reinforcing bearish pressure.

The combination of RSI in the 30–50 range and bearish MACD suggests mixed momentum.

  • Key Resistance: $184.50
  • Key Support: $156

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the May 20 (estimated) earnings report.

  • EPS Estimate: Loss of 5 cents (Down from 24 cents year-over-year)
  • Revenue Estimate: $1.32 billion (Up from $1.04 Billion YoY)
  • Valuation: N/A

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $239.93. Recent analyst moves include:

  • Macquarie: Neutral (Lowers target to $177 on Feb. 26)
  • JP Morgan: Overweight (Lowers target to $245 on Feb. 26)
  • Canaccord Genuity: Buy (Lowers target to $240 on Feb. 26)

Top ETF Exposure

  • JPMorgan US Tech Leaders ETF (NASDAQ:JTEK): 3.53% Weight
  • Dana Unconstrained Equity ETF (NYSE:DUNK): 8.20% Weight
  • Twin Oak Endure ETF (NASDAQ:SPYA): 8.75% Weight

Significance: Because SNOW carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Price Action

SNOW Stock Price Activity: Snowflake shares were up 1.23% at $162.58 at the time of publication on Thursday, according to Benzinga Pro data.

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