Movement Alert｜Snowflake Rises 3.21% in Pre-Market Trading, Multiple Investment Banks Raise Target Prices Ahead of Q2 Earnings

Market Focus19:17

On August 27, Snowflake rose 3.21% in pre-market trading, trading at $325.0 per share, with turnover of $972,600.

On the news front, Citi raised its target price on Snowflake to $395 on the same day. Over the prior week, UBS ($425), Bank of America ($395), Truist ($375), Benchmark ($360), and several other institutions have intensively raised their target prices while maintaining buy ratings. The core thesis centers on two factors: first, a broad expansion in software sector valuation multiples as market concerns over AI disruption continue to ease; second, accelerating adoption of Snowflake's AI products, particularly the CoCo coding agent and Snowflake Intelligence. Oppenheimer projects Q2 product revenue of approximately $1.47 billion, roughly 3%-4% above consensus and representing over 34% year-over-year growth. The company is scheduled to report fiscal Q2 results on September 2.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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