Benchmark analyst Yi Fu Lee reiterated a Buy rating and $290.00 price target on Snowflake Inc. (NYSE: SNOW).

The analyst commented, "We reiterate our Buy rating and increase our price target from $270 to $290 following our attendance of Snowflake Summit & Investor Day Session 2026. Coming from the monster start to F1Q27 where FY27 product revenue guidance was raised by 400 bps to 31% y/y growth, the Snowflake team is set in high gears to discuss the long term vision of AI driven acceleration of the core data cloud platform. We walked away from the summit and investor session feeling compelled that AI is structurally accelerating the company’s growth algorithm by increasing both the speed and intensity of customer consumption. We observed measurable data points clearly showing improvements across key operating metrics, including sales cycles accelerating, usage ramp improving by nearly ~40% faster to ~7 months, migrations count expanding +1.9x y/y and case uses +1.7xy/y. Importantly, AI-driven products such as Cortex Code (CoCo) and CoWork (formerly Snowflake Intelligence) are directly contributing to these gains by reducing friction in deployment and enabling customers to reach production faster, which is already translating into earlier revenue realization and higher consumption per customer. Coupled with continued strong customer acquisition momentum, we tracked net new adds +36% y/y in FY2026 and stable best-in-class retention, we believe these data points reinforce that Snowflake is compressing the time from land to meaningful consumption, a key unlock that has historically constrained growth in consumption-based models."

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Shares of Snowflake Inc. closed at $241.28 yesterday.