HSBC upgrades Snowflake to Buy, sets price target at $289
HSBC has upgraded Snowflake from Hold to Buy, increasing its price target significantly. The upgrade is driven by strong fiscal Q1 results, particularly in AI product revenue and bookings. Analysts are optimistic about Snowflake's growth potential amidst increasing competition in the cloud data market.
- ▪HSBC analyst Stephen Bersey raised Snowflake's price target from $176 to $289, a 64% increase.
- ▪Snowflake's product revenue grew 30% year-over-year, with bookings surging 42%.
- ▪The company has seen significant growth in its AI-related accounts, now totaling around 9,100.
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HSBC upgrades Snowflake to Buy, sets price target at $289 Analyst Stephen Bersey nearly doubles his price target on the cloud data company, citing AI monetization momentum and margin expansion. Share Add us on Google by Editorial Team May. 29, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); HSBC analyst Stephen Bersey has upgraded Snowflake from Hold to Buy, lifting his price target from $176 to $289.
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