Raymond James Stays Bullish on Snowflake (SNOW) After Beat-and-Raise Quarter

Snowflake Inc. (NYSE:SNOW) is one of the Trending AI Stocks on Wall Street.On August 28, Raymond James analyst Simon Leopold raised the price target on the stock to $230.00 (from $212.00) while maintaining an Outperform rating.

The firm came away bullish on the stock following a beat and raise quarter for fiscal year 2026. The Cloud data platform provider reported revenue of $1.14 billion, surpassing analyst expectations of $1.09 billion.

Meanwhile, adjusted EPS came in at $0.38, above analyst estimates of $0.27. Looking ahead, the company has raised its full-year product revenue guidance to $4.395 billion, reflecting a 27% year-over-year growth.

CEO Sridhar Ramaswamy highlighted Snowflake’s leadership in AI data platforms, indicating that it is the “best AI data platform that there is.”

“We maintain our Outperform rating following a beat and raise F2Q26 report. Shares were up ~10% after-hours. Commentary was positive on traction with Cortex and AI more generally, with 25% of use cases deployed this quarter involving A.I. Our price target comes up to $230.”

Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company providing a data analysis, storage, and sharing platform.

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