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Snowflake heads into Sept. 2 earnings amid AI growth push
Ahead of its Sept. 2 report, TD Cowen raised its Snowflake price target to $370 from $300, pointing to AI products like Cortex Code and a centralized AI gateway for enterprise agents.
Snowflake is set to report earnings on Sept. 2 as Wall Street weighs whether its AI-led growth momentum is already reflected in the stock price, according to Yahoo Finance.
Before the report, TD Cowen raised its price target on Snowflake to $370 from $300 while keeping a Buy rating. The firm’s view follows similar target increases from Deutsche Bank, Truist, BofA, and UBS mentioned in the coverage.
The article highlights Snowflake’s AI-powered Cortex Code, also branded as CoCo, describing it as an AI coding agent built into Snowflake’s data cloud. It also points to Snowflake Intelligence and a Cortex AI gateway, described as a governance layer that helps enterprises manage AI agents and monitor AI consumption costs.
Financially, Yahoo Finance cites Snowflake’s first quarter of fiscal 2027 results, including revenue of $1.39 billion, up 33% year over year, and product revenue of $1.33 billion, up 34% year over year. For fiscal 2027, management raised its product revenue outlook to $5,840 million, up 31% year over year, and the article notes the stock is already up 48% year to date.