Oppenheimer Just Gave Snowflake Stock a Big Vote of Confidence

Oppenheimer raised its price target for Snowflake (SNOW) to $400 from $295 while keeping an “Outperform” rating, a target increase of about 36%. The firm cites stronger consumption trends across regions and industries, plus accelerating adoption of Snowflake’s AI coding agent, CoCo. With revenue tied to how much customers use the platform, increased usage is a key factor. Shares have already gained roughly 50% year-to-date and more than 69% over the past year, trading near the 52-week high and valuing Snowflake at over $116 billion. Oppenheimer also projects product revenue growth of about 34.7% YoY and product revenue near $1.469 billion, slightly above consensus.