Goldman Sachs massively resets Snowflake stock price target for 2026

Then Snowflake reported earnings. And the banal jumped 37% successful a azygous session. Goldman Sachs responded with 1 of its astir melodramatic terms people increases connected a large bundle banal this year, raising its Snowflake (SNOW) people successful a enactment shared with maine astatine TheStreet.

SNOW is present trading astatine $255.37, up 16.42% year-to-date aft the post-earnings surge, according to Yahoo Finance.

The Goldman enactment identified 2 circumstantial dynamics converging wrong Snowflake's concern close present that the marketplace had been underpricing. Once you recognize both, the 37% single-day determination starts to look little similar euphoria and much similar a rational repricing.

Goldman Sachs raises Snowflake terms people to $278 from $216

Right aft earnings, Goldman Sachs raised its Snowflake (SNOW) people to $278 from $216 successful a enactment shared with maine astatine TheStreet, portion maintaining its Buy rating. The 2 AI inflections Goldman mentioned successful the enactment are compounding simultaneously wrong Snowflake's business.

The archetypal is external: the proliferation of AI coding tools is making it dramatically easier for enterprises to migrate from bequest information platforms to modern ones similar Snowflake. Migrations that antecedently required months of engineering enactment are being compressed.

More Wall Street:

• JPMorgan resets S&P 500 terms people for the remainder of 2026

• Vanguard challenges the S&P 500 arsenic a one-stop strategy

• Goldman Sachs resets Broadcom banal forecast

The outgo of switching has fallen. The urgency to power has risen arsenic companies request governed, structured information environments to tally AI applications. Snowflake is the nonstop beneficiary of some forces.

The 2nd is internal: Cortex Code. That’s Snowflake's ain AI coding product, launched successful wide availability successful mid-February 2026, which embeds a context-aware AI coding cause straight into the improvement workflow.

It enables customers to build, deploy, and iterate connected information pipelines, analytics, and AI agents faster portion remaining afloat governed wrong the Snowflake environment.

Related: Snowflake banal expert reveals astonishing banal forecast

Adoption has been the fastest of immoderate Snowflake merchandise successful institution history, with implicit 7,100 accounts already utilizing it — astir 50% penetration — according to the Q1 net merchandise study and the note.