Movement Alert｜Snowflake Rises 3.05% in Regular Trading, Multiple Banks Raise Price Targets as Institutional Buying Intensifies

Market Focus07-01 22:36

On July 1, Snowflake rose 3.05% in regular trading, trading at $260.0/share, with turnover of $338 million. The stock was supported by a wave of bullish analyst actions and notable institutional accumulation.

On the news front, multiple investment banks recently raised their price targets on Snowflake: UBS lifted its target to $370, Deutsche Bank to $300, HSBC upgraded the stock to buy with a $289 target, and CICC initiated an outperform rating with a $280 target. Additionally, Bank of America named Snowflake one of its top five technology picks for the second half, while ARK Invest substantially increased its position in the stock. The convergence of upgraded targets and institutional buying provided clear upward momentum.

Fundamentally, Snowflake reported strong fiscal Q1 results with revenue growing 33% year-over-year to $1.39 billion and adjusted EPS of $0.39, both exceeding expectations. The company continues to deepen its AI strategy through partnerships with Anthropic and expanded enterprise adoption of its Cortex AI platform.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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