Snowflake AI Business Surges as Analysts Raise Price Targets
Snowflake's AI business is accelerating, prompting Wells Fargo and other analysts to raise price targets, with the stock now implying a 28% upside from current levels.
Snowflake Inc. (NYSE: SNOW) is seeing its artificial intelligence business grow faster than many analysts anticipated, prompting upward revisions to price targets. On June 9, Wells Fargo analyst Ryan MacWilliams raised the firm's target price on Snowflake to $320 from $300, assigning a Buy rating. The new target implies a 28% upside from current levels. Additionally, Stifel Nicolaus and Bank of America Securities reaffirmed their Buy ratings on the stock in early June.
For traders, Snowflake's AI momentum is a key catalyst. The company highlighted the benefits of its partnership with Anthropic, announced in December 2025, at Snowflake Summit 26 on June 2. This collaboration is increasing enterprise adoption of Snowflake's data cloud platform, which now integrates advanced AI capabilities. As AI spending continues to surge across industries, Snowflake is positioned to capture a significant share. Live commodities prices and charts on NowPrice show how the broader tech sector is reacting to AI-driven growth stories, with Snowflake emerging as a standout.
Looking ahead, investors will watch for further analyst upgrades and any new partnership announcements. The upcoming earnings report will be crucial to validate the AI growth narrative. If Snowflake can demonstrate accelerating revenue from its AI products, the stock could see additional upside. Key levels to monitor include the $320 target and the recent high around $330, which could act as resistance.