On September 2, 2026, Snowflake Inc. (NYSE:SNOW) reported second-quarter fiscal 2027 results for the period ended July 31, 2026. Revenue rose 35% to $1.55 billion against a $1.48 billion consensus, product revenue grew 37% to $1.49 billion, and adjusted earnings came in at $0.62 per share versus the $0.45 ******* ysts expected. Management raised full-year product revenue guidance to $6.07 billion from $5.84 billion. Shares surged more than 20% in extended trading, and within 48 hours eight firms had rewritten their models.
The size of the target revisions tells the story.
Argus ******* yst Joseph Bonner moved to $450 from $300, keeping a Buy rating and arguing that new AI products are driving sales, customer conversion, and retention while Snowflake Inc. (NYSE:SNOW) grows well above management's 30% north star target with expanding margins.
Goldman Sachs also went to $436 from $300, noting product revenue landed 5% above the Street and EBIT margins 270 basis points ahead, and said the stock reaction reflects a setup where estimates keep moving higher over the next 18 months.
JPMorgan lifted its target to $426 from $285 on a third straight quarter of product revenue acceleration, while Raymond James ******* yst Adam Tindle went to $425 from $275, framing Snowflake Inc. (NYSE:SNOW) as an AI-native control plane for enterprise workflows beyond ******* ytics.

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