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Barchart
Barchart
Jabran Kundi

Snowflake Is Already Up 50%. One Analyst Still Sees 25% Further Upside.

Snowflake SNOW COCO United States

PhilipCapital started coverage of Snowflake (SNOW) with a Buy rating and a $423 price target on Sept. 28. That bullish stance comes after the stock has already climbed more than 50% year-to-date. The thesis centers on one key figure: 95% of the company’s revenue comes directly from consumption rather than flat subscriptions. PhilipCapital believes this model leaves Snowflake well positioned to capture AI-driven compute demand.

The Rating and the Reasoning

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