Evercore Raises Snowflake Price Target to $360, Confirms Buy Rating Near 52-Week High

By TrendSpider Editor

Evercore Partners analyst Kirk Materne confirmed a Buy rating on Snowflake Inc. while significantly raising the price target to $360 from a prior $280, representing a $80 increase in the firm's valuation outlook. SNOW is currently trading at $335, up a modest 0.09% on the session, and sits near the

Evercore Raises Snowflake Price Target to $360, Confirms Buy Rating Near 52-Week High

Evercore Partners analyst Kirk Materne confirmed a Buy rating on Snowflake Inc. while significantly raising the price target to $360 from a prior $280, representing a $80 increase in the firm's valuation outlook. SNOW is currently trading at $335, up a modest 0.09% on the session, and sits near the top of its 52-week range of $118.30 to $340.50. The reaffirmed conviction from Evercore arrives as the stock trades within striking distance of its annual peak, suggesting institutional confidence in the company's trajectory heading into the back half of 2026.

Key Drivers of the SNOW Stock Move

• Main Catalyst: Evercore Partners analyst Kirk Materne confirmed a Buy rating on SNOW and raised the price target to $360 from $280, a meaningful upward revision of $80 that signals growing conviction in the cloud data platform's growth story.
• Bull Case: The new $360 price target implies roughly 7.5% upside from the current price of $335, and the magnitude of the target increase from $280 reflects a substantial reassessment of Snowflake's fundamental value. The stock already trades near its 52-week high of $340.50, indicating strong underlying momentum.
• Bear Case: With SNOW trading at $335 and approaching its 52-week high of $340.50, the stock has limited near-term runway before entering uncharted territory. A confirmation rather than a new upgrade may signal that broader analyst sentiment has already been priced in, and a single-action day with only 0.09% movement suggests the market is not treating this as a major surprise catalyst.

The forward setup for Snowflake looks constructive from a technical standpoint, with the stock consolidating near multiyear highs while receiving renewed institutional support. The $360 consensus average price target from Evercore provides a near-term level for bulls to anchor around. Traders will be watching whether SNOW can break decisively above the $340.50 52-week high and hold above that level, which would open the door to price discovery. A confirmed Buy rating from a firm like Evercore, paired with a sharply higher price target, tends to attract additional institutional interest, particularly when the stock is already exhibiting relative strength against a broad 52-week range that stretches down to $118.30.

SNOW Analyst Ratings and Price Targets

Evercore Partners (analyst Kirk Materne) confirmed its Buy rating on Snowflake on August 11, 2026, while raising the price target to $360 from a prior $280. There were no upgrades or downgrades in today's action, making this a pure conviction reaffirmation alongside a target revision. The consensus average price target currently stands at $360.

SNOW Seasonality

Mid-August has historically been a mixed period for cloud and data infrastructure names, as markets navigate the late summer trading lull before the September earnings season reset. For SNOW specifically, price action in August has at times been volatile around product and partnership announcements, making the current near-52-week-high positioning worth monitoring closely over the coming weeks.

SNOW Relative Performance

With SNOW trading at $335 and posting a gain of 0.09% on the session, the stock is outperforming on a relative basis when measured against its own 52-week range, sitting approximately 183% above its 52-week low of $118.30. The proximity to the 52-week high of $340.50 places SNOW among the stronger performers in the cloud data infrastructure space and reflects a sustained recovery from the lows seen over the past year.