Jefferies Raises Snowflake (SNOW) PT to $300, Citing Strong AI-Driven Demand

Snowflake Inc. (NYSE:SNOW) is one of the Hot AI Stocks to Keep on Your Radar. On November 24, Jefferies raised the firm’s price target on the stock to $300 from $270 and kept a “Buy” rating on the shares. The price target raise reflects optimism stemming from the firm’s proprietary survey which indicates robust AI-driven demand for SNOW.

According to the firm, positive indicators for the stock include pipeline strength and partner growth outlooks. The firm has deemed SNOW as its “Top Pick” poised for robust performance in the second half of the year.

“Our proprietary SNOW survey indicates robust demand (pipeline, partner growth outlooks) with AI as the primary driver of incremental growth. We continue to favor SNOW as a Top Pick and believe the company is poised for a strong F2H on positive checks, growing AI adoption, easing comps, and a conservative guide. Buy, PT to $300 (implies 16× CY27 rev).”

Overall, the firm is confident on SNOW supported by robust AI adoption and partner momentum that are reinforcing confidence in its growth trajectory.

Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company providing a data analysis, storage, and sharing platform.

While we acknowledge the potential of SNOW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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