BTIG raises Snowflake stock price target citing AI initiatives

BTIG raised its price target for Snowflake (NYSE: SNOW) to $235, up from $225 in early June, while holding onto its Buy rating. The move doesn’t come from any new financial projections—in fact, Snowflake’s latest presentation offered no updates on long-term growth metrics or revenue guidance.

What BTIG did like was the direction. The firm pointed to steady product momentum and a clear focus on expanding Snowflake’s core platform. Revenue growth clocked in at 27.5% over the past year, and Snowflake’s efforts to simplify and automate through AI seem to be resonating.

The firm also flagged Snowflake’s recent acquisition of Crunchy Data as a smart play. It may strengthen the company’s position in building out next-gen apps, especially in environments that prioritize flexibility and performance.

Two more details stood out: growing adoption of Iceberg Tables — a key data architecture trend — and signs that the sales team is expanding. BTIG sees both as short-term and mid-term growth drivers.

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Disclosure: None.