Rosenblatt Lifts Snowflake Price Target to $345 as SNOW Surges Nearly 18%

By TrendSpider Editor

Rosenblatt Securities analyst Blair Abernethy confirmed a Buy rating on Snowflake Inc. while raising the price target to $345 from $285, a $60 increase that signals growing conviction in the data cloud company's outlook. SNOW shares surged 17.64% to $376.41 on Wednesday, a move so strong that the st

Rosenblatt Lifts Snowflake Price Target to $345 as SNOW Surges Nearly 18%

Rosenblatt Securities analyst Blair Abernethy confirmed a Buy rating on Snowflake Inc. while raising the price target to $345 from $285, a $60 increase that signals growing conviction in the data cloud company's outlook. SNOW shares surged 17.64% to $376.41 on Wednesday, a move so strong that the stock is now trading above even the newly raised price target. That current price also clears the 52-week high of $341.95, marking a fresh breakout after spending time in a range as wide as $118.30 on the low end.

Key Drivers of the SNOW Stock Move

• Main Catalyst: Rosenblatt's Blair Abernethy reaffirmed a Buy rating on SNOW and raised the price target to $345 from $285, representing a $60 upward revision that reflects meaningfully improved expectations for the company's business trajectory.
• Bull Case: The 17.64% single-session gain pushed SNOW to $376.41, clearing the prior 52-week high of $341.95 and suggesting strong institutional follow-through. A price target raise of this magnitude from a named analyst adds credibility to the move and may attract additional coverage upgrades.
• Bear Case: With SNOW trading at $376.41 against an average price target of $345, the stock has already run past the consensus view on valuation. Buyers stepping in at current levels are acquiring shares roughly 9% above where the average analyst thinks fair value sits, leaving little near-term upside buffer based on the current analyst consensus.

The forward setup for SNOW is notable for several reasons. The breakout above the 52-week high of $341.95 is a technical milestone that can trigger momentum-driven buying from systematic strategies and trend-following funds. However, the stock now sits in uncharted territory with no overhead resistance reference points based on the past year of price history, which cuts both ways. The Rosenblatt target raise to $345 was issued at a moment when the stock was likely trading closer to that level, but the intraday surge has outpaced the analyst's revised estimate. Investors will be watching whether additional Wall Street firms follow Rosenblatt's lead with their own target increases, which could help establish a new consensus range that better reflects the current price environment. The wide 52-week range, spanning from $118.30 to what is now a fresh high above $376, underscores how much sentiment has shifted around Snowflake over the past year.

SNOW Analyst Ratings and Price Targets

Rosenblatt Securities, through analyst Blair Abernethy, confirmed a Buy rating on Snowflake while raising the price target to $345 from a prior target of $285. This is the only analyst action recorded for today's session. The consensus average price target currently sits at $345, which now trails the stock's market price of $376.41 by a meaningful margin. With SNOW trading above the average price target, the analyst community as a whole will likely need to revisit models and issue revised estimates in the sessions ahead to catch up to where the market is pricing the stock.

SNOW Seasonality

September has historically been one of the more challenging months for growth and technology-oriented equities, making a near-18% single-session gain during this window particularly notable. A sustained hold above the 52-week high through the typically volatile back half of September would be a constructive seasonal signal for SNOW heading into the fourth quarter.

SNOW Relative Performance

SNOW's 17.64% gain to $376.41 on Wednesday is a standout move relative to the broader market and peers in the data and cloud infrastructure space. The stock's current price not only eclipses its 52-week high of $341.95 but also puts meaningful distance between SNOW and most software peers that would be expected to register far more modest single-day moves. The scale of the move suggests SNOW is outperforming both its sector and relevant benchmarks by a wide margin on this session, driven by the combination of the Rosenblatt target raise and likely a positive underlying business catalyst drawing broader investor attention.