Snowflake Price Targets Raised to $320 and $300 as AI Demand Surges
SNOW•Scotiabank raised Snowflake’s price target to $320—32% above its $242.41 share price—while Jefferies set a $300 target on strong AI demand. The company added 616 Q1 customers, grew Cortex Code usage to 7,100 accounts and secured a $6 billion AWS deal despite underperforming its sector.
1. Analyst Price Target Increases
On June 8 Snowflake saw its price target raised to $320 by Scotiabank and $300 by Jefferies, implying upside of about 32% and reflecting strong confidence in the company’s AI-driven growth strategy.
2. AI Product Adoption and AWS Partnership
The company added 616 new customers in its fiscal first quarter of 2027 and expanded Cortex Code usage to over 7,100 accounts, while securing a $6 billion multi-year agreement with Amazon Web Services to scale its AI platform services.
3. Market Performance and Margin Pressure
Despite a 25% stock surge over the past month, Snowflake lags its sector’s 53.3% gain and faces margin pressure from investment in new AI products and a high valuation relative to earnings.
