Citi Updates Model Following Robust AI Performance at Snowflake Inc. (SNOW)

Snowflake Inc. (NYSE:SNOW) is among the 13 Best Big Tech Stocks to Buy According to Hedge Funds.

Snowflake Inc. (NYSE:SNOW) is among the best technology stocks.

TheFly reported on February 26 that Citi raised its price target for SNOW from $270 to $280 while maintaining a Buy rating. Citi noted that the company's Q4 results showed stronger AI momentum entering fiscal 2027 and prompted an update to the firm’s model.

The fourth-quarter and full-year fiscal 2026 results of Snowflake Inc. (NYSE:SNOW), which concluded on January 31, 2026, were released on February 25. The company's Q4 product sales were $1.23 billion, up 30% from the previous year, and its remaining performance commitments increased 42% to $9.77 billion.

SNOW also revealed that it added 733 new high-value consumers to its portfolio, including a record number of customers who spent over $10 million and 740 net new customers, 40% more than the year before. The results highlight SNOW's focus on gaining new customers and forming strategic partnerships, which are supported by its business AI platform, governance, and cross-cloud interoperability.

To promote sustainable, long-term growth, leadership placed a strong emphasis on innovation, focused execution, and operational alignment. As SNOW approaches fiscal 2027, these outcomes put the company in a strong position to lead the corporate AI industry while upholding operational rigor and momentum.

Snowflake Inc. (NYSE:SNOW) is a cloud-based data platform that enables organizations to store, analyze, and share data securely. It offers scalable data warehousing, data lakes, and data collaboration solutions, helping businesses drive insights and make data-driven decisions efficiently.

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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