Oppenheimer Says Cortex Code Is Driving Increased Consumption; Raises PT On Snowflake (SNOW) To $295

Fresh expert enactment came for Snowflake Inc. (NYSE:SNOW) pursuing its fiscal Q1 2027 results.

On May 28, 2026, Oppenheimer raised its terms people connected Snowflake Inc. (NYSE:SNOW) to $295 from $250 and kept an “Outperform” standing connected the shares. The steadfast said Snowflake delivered awesome first-quarter results good up of expectations, with merchandise gross maturation of 33.9% year-over-year and acceleration successful some halfway information and caller AI workloads. Oppenheimer pointed to Cortex Code topping 7,100 accounts successful its archetypal 4th arsenic an encouraging AI signal, noting it is already driving accrued consumption.

Snowflake Inc. (NYSE:SNOW) released its results connected May 27, 2026.

First-quarter merchandise gross came successful astatine $1.39 billion, up of the expert statement estimation of $1.32 billion. Snowflake Inc. (NYSE:SNOW) raised its fiscal 2027 merchandise gross forecast to $5.84 cardinal from $5.66 billion. CEO Sridhar Ramaswamy said the summation reflected spot successful the halfway information level concern and meaningful uplift from AI capabilities. For the 2nd quarter, Snowflake guided for merchandise gross of $1.415 cardinal to $1.420 billion, supra the anterior expert estimation of $1.37 billion.

Meanwhile, Snowflake Inc. (NYSE:SNOW) announced a five-year, $6 cardinal woody with Amazon Web Services to usage AWS Graviton processors and AI infrastructure. The statement includes deeper merchandise integrations astir generative and agentic AI, expanded go-to-market efforts done AWS Marketplace, and workload migrations aimed astatine helping businesses determination from experimenting with AI to deploying it routinely.

Snowflake Inc. (NYSE:SNOW) is an American cloud-based information level company. It offers an AI Data Cloud platform, which enables organizations to build, use, and stock data, applications, and AI.

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