Snowflake Stock Surges 36% as Nine Analysts Raise Price Targets After Earnings

May 28, 2026

By TrendSpider Editor

Snowflake Stock Surges 36% as Nine Analysts Raise Price Targets After Earnings

Snowflake Inc. (SNOW) is one of the market's biggest movers on Thursday, May 28, 2026, surging 36.42% to $239.15 after a wave of analyst confirmations and sharply higher price targets swept across Wall Street. Nine firms simultaneously reaffirmed buy ratings on the stock, driving a consensus average price target of $290.875. The move puts SNOW in the upper half of its 52-week range of $118.30 to $280.67, and within striking distance of its annual high.

Key Drivers of the SNOW Stock Move

Main Catalyst: Nine analyst firms confirmed buy ratings on SNOW today, with several dramatically raising price targets. Notable moves include ScotiaBank lifting its target from $205 to $285, Bank of America jumping from $205 to $300, Needham moving from $200 to $300, and Stifel going from $205 to $300. The across-the-board confirmation with zero downgrades reflects strong institutional conviction following what appears to be a significant earnings or business update.
Bull Case: The average price target across all nine firms now stands at $290.875, representing meaningful upside from the current price of $239.15. Morgan Stanley raised its target from $245 to $300, while Bank of America, Needham, and Stifel all converged on the same $300 target. With no upgrades needed because every firm already holds a buy, the breadth of positive sentiment is unusually consistent.
Bear Case: At $239.15, SNOW is already trading at the higher end of its 52-week range that bottomed at $118.30, meaning a significant portion of the recovery may already be priced in. The all-time 52-week high of $280.67 looms as near-term technical resistance, and a single session gain of 36.42% raises the risk of mean reversion if the underlying business update does not sustain momentum in the sessions ahead.

The forward setup for SNOW looks constructive given the rare uniformity of Wall Street's response. When nine firms raise price targets on the same day without a single downgrade, it typically signals that reported results or guidance materially exceeded expectations. Wedbush analyst Daniel Ives, one of the technology sector's most closely watched voices, raised his target from $270 to $280, adding credibility to the move. Cantor Fitzgerald lifted its target from $225 to $282, and BTIG moved from $235 to $280, rounding out a cohesive cluster of $280 to $300 targets. The convergence of price targets suggests analysts are working from the same updated financial model, which tends to anchor institutional buying activity in the days following such revisions.

SNOW Analyst Ratings and Price Targets

All nine analyst actions issued today are buy confirmations, with zero upgrades and zero downgrades. The consensus average price target is $290.875. Individual firm actions are as follows:

D.A. Davidson (Gil Luria): Confirms buy. Prior price target: $250. No new target disclosed.
ScotiaBank (Patrick Colville): Confirms buy. New price target: $285, raised from $205.
Cantor Fitzgerald (Thomas Blakey): Confirms buy. New price target: $282, raised from $225.
Wedbush (Daniel Ives): Confirms buy. New price target: $280, raised from $270.
Bank of America (Bradley Sills): Confirms buy. New price target: $300, raised from $205.
Needham (Mike Cikos): Confirms buy. New price target: $300, raised from $200.
Stifel (Brad Reback): Confirms buy. New price target: $300, raised from $205.
Morgan Stanley (Sanjit Singh): Confirms buy. New price target: $300, raised from $245.
BTIG (Gray Powell): Confirms buy. New price target: $280, raised from $235.

SNOW Seasonality

Late May earnings releases for cloud infrastructure companies have historically been high-volatility events, as the period captures the end of the first fiscal quarter for many enterprise software vendors and sets the tone for full-year guidance expectations. A strong late-May print that triggers broad analyst target revisions often sustains momentum into June as institutional funds rebalance toward upgraded positions.

SNOW Relative Performance

SNOW's single-session gain of 36.42% to $239.15 is an outsized move by any measure within the enterprise software and cloud data space. The stock had previously been recovering from a 52-week low of $118.30, and today's surge cuts the distance to its 52-week high of $280.67 to approximately $41.52. That kind of single-day recovery significantly outpaces typical sector moves and places SNOW among the top performers in technology on Thursday, May 28, 2026.