Movement Alert｜Snowflake Rises 3.24% in Regular Trading, Investment Banks Continue Raising Target Prices Amid AI Sector Strength

Market Focus

Aug 04

On August 4, Snowflake rose 3.24% in regular trading, trading at $317.92/share, with turnover of $4.47 billion.

On the news front, BTIG raised its target price on Snowflake to $340, extending a wave of investment bank upgrades. This follows recent target price increases from UBS ($370), Royal Bank of Canada ($313 with Outperform rating), Deutsche Bank ($300), and Jefferies (maintaining Buy rating at $310). The upgrade momentum reflects growing confidence in the company's AI-driven growth trajectory.

Additionally, the broader AI application software sector continued to strengthen, providing further tailwinds. Competitor Databricks recently completed a $3 billion funding round at a $188 billion valuation, driving a revaluation of the entire AI data platform space. Snowflake also recently launched Cortex AI Gateway and multiple AI security features designed to help enterprises securely scale their agentic AI ecosystems, reinforcing its competitive positioning in enterprise-grade intelligent agent infrastructure.

(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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