RBC Capital analyst Matthew Hedberg raised the price target on Snowflake Inc. (NYSE: SNOW) to $236.00 (from $221.00) while maintaining an Outperform rating.

The analyst commented: "Snowflake delivered a strong start to the FY highlighted by product revenue growth of +26% (+28% adjusted for the leap year) vs. consensus at +22%. Importantly, the company saw no tariff/macro impact on the business. FY/26 revenue guidance was raised by more than the beat as we believe FY growth could be biased higher on building momentum into the 2H/26. Maintain OP rating and increase our PT to $236 from $221 on higher estimates as we remain bullish on the opportunity. SNOW remains our top large-cap pick."