Snowflake’s (SNOW) AI Business Is Growing Faster Than Many Expected As Analysts Revise Target Price Upward
Key takeaways
- Snowflake’s (SNOW) AI Business Is Growing Faster Than Many Expected As Analysts Revise Target Price Upward Jabran Kundi Tue, June 30, 2026 at 7:15 PM GMT+7 2 min read SNOW Snowflake Inc.
- On June 2, at Snowflake Summit 26, the company highlighted the benefits of its partnership with Anthropic, which was announced in December 2025.
- The AI tailwind has resulted in Snowflake's Cortex Code having more than 7,100 users.
Snowflake’s (SNOW) AI Business Is Growing Faster Than Many Expected As Analysts Revise Target Price Upward Jabran Kundi Tue, June 30, 2026 at 7:15 PM GMT+7 2 min read SNOW Snowflake Inc. (NYSE:SNOW) is one of the 10 AI Stocks That Are Surging. On June 9, Wells Fargo analyst Ryan Mac Williams raised the firm's target price on Snowflake Inc. (NYSE:SNOW) to $320 from $300 and assigned a Buy rating to the stock. The upward price target revision reflects a 28% upside from current levels. In addition to Wells Fargo, two other analysts reaffirmed their Buy ratings on the stock in the first week of June. This includes Stifel Nicolaus and Bank of America Securities.
On June 2, at Snowflake Summit 26, the company highlighted the benefits of its partnership with Anthropic, which was announced in December 2025. It noted that the collaboration was increasing enterprise adoption of Claude through Snowflake Cortex AI. Christian Kleinerman, Snowflake's EVP of Product, believed that the growing adoption of Claude by companies reflects increasing demand for AI tools. As a result, the company sees strong customer interest across its AI products, with Snowflake Cortex Code becoming the fastest-growing product in Snowflake's history.
The AI tailwind has resulted in Snowflake's Cortex Code having more than 7,100 users. Moreover, major enterprises are adopting the company's AI solutions, including Basis, Block, Caravana, eSentire, Indeed, and Notion.