Snowflake Price Targets Cut to $246/$275, Signs $200M OpenAI Partnership
Goldman Sachs cut Snowflake's price target to $246 from $286 and BofA reduced its target to $275 from $310 while maintaining Buy ratings. Snowflake signed a $200 million partnership with OpenAI to integrate GPT-5.2 into its Intelligence platform for enterprise AI model access.
1. Analyst Price Target Reductions
On February 11, Goldman Sachs lowered its price objective on Snowflake shares from $286 to $246 while maintaining a Buy rating. Earlier, on February 6, Bank of America trimmed its target from $310 to $275 and kept a Buy assessment after revising valuation methods and growth forecasts.
2. $200M OpenAI Partnership
On February 2, Snowflake entered a $200 million partnership with OpenAI, securing access to GPT-5.2 and other advanced models within Snowflake Intelligence. The agreement includes co-innovation initiatives and joint go-to-market efforts aimed at delivering AI capabilities to enterprise customers via Snowflake's data platform.
3. Strategic Implications and Outlook
The price target reductions reflect cautious growth assumptions amid peer multiple compression, while the OpenAI deal underscores Snowflake's push to embed AI into its core offerings. Together, these developments may influence revenue diversification, platform adoption and investor sentiment heading into fiscal year projections.