Snowflake (SNOW) Stock Gets 44% Price Target Hike From Cantor Fitzgerald Before Earnings
TLDR
- Cantor Fitzgerald raised its Snowflake price target 44% to $405 from $282, keeping a Buy rating
- The upgrade comes two days before Snowflake reports fiscal Q2 2027 earnings on September 2
- Analyst Thomas Blakey expects product revenue to beat guidance midpoint by more than 3%
- Cortex Code adoption is estimated at 15-20% of the customer base, with room to grow
- Wall Street holds a Strong Buy consensus on SNOW with an average price target of $360.61
Snowflake is back in the spotlight after Cantor Fitzgerald analyst Thomas Blakey raised his price target by 44% to $405, up from $282, while keeping a Buy rating. SNOW currently trades around $324.60, near its 52-week high of $341.95.
The stock has surged 95% over the past six months, and Blakey believes there is still more room to run heading into Q2 earnings on September 2.
Blakey’s call is based on expanding market multiples in software, particularly for companies tied to agentic AI and data-driven workloads. He sees Snowflake becoming the primary data and control layer for businesses deploying AI agents.
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