Regular Session: New York, Mon Feb 9, 2026
- Snowflake shares rose about 3.3% in Monday’s regular session after Jefferies pushed back on AI-driven bearish sentiment, reiterating a Buy rating and a $300 price target.
- The move came despite broader tech volatility, as analysts highlighted Snowflake’s AI integration and long-term growth prospects even while opinions on valuation remain mixed across Wall Street.
- Traders are now focused on Snowflake’s upcoming earnings later this month, along with enterprise AI adoption trends and broader market direction, as key near-term catalysts.
In a volatile session on Monday, Feb. 9, 2026, shares of Snowflake Inc. (NYSE: SNOW) climbed **about +3.34 % in regular trading following a wave of analyst commentary pushing back against bearish narratives around artificial intelligence and software stocks. The move came as broader tech sentiment began to stabilize after recent sectorwide weakness tied to fears that AI could cannibalize traditional software revenue models.(Barron’s)
Investors reacted positively to research published by Jefferies on Monday, in which senior analyst Brent Thill argued that market concerns over AI’s disruptive impact on software are “too harsh” and that companies like Snowflake stand to benefit by embedding AI capabilities into their platforms. Jefferies reiterated its Buy rating and affirmed a $300 price target on Snowflake, underscoring long-term confidence in the data cloud provider’s strategic position despite recent selling pressure.(Barron’s)
Snowflake’s stock traded at around $174 at the close, up more than 3 % from its prior session, reflecting a bounce from recent lows that had seen the share price under pressure amid broader tech outflows. The stock’s season-to-date performance still trails major indices, but Monday’s uptick marked a notable relief rally.(MEXC)
The broader market context underscored the mixed tech backdrop. While major U.S. benchmarks such as the Nasdaq continue to exhibit resilience, sector rotations tied to AI narratives have created heightened volatility among cloud and software names. Analyst confidence in Snowflake’s long-term prospects appears to be a counterweight to these short-term headwinds.(IndexBox)
In addition to Jefferies’ bullish call, other major brokerages have also updated their outlook on Snowflake in recent months, signaling a range of sentiment among Wall Street strategists. Raymond James raised its target to $274 from $230, citing steady demand trends and mixed outlooks on margins, while KeyBanc and RBC Capital have pitched higher targets based on robust product revenue performance and AI engagement metrics. Meanwhile, Barclays earlier in the year trimmed its rating to Equalweight and adjusted its target lower, highlighting ongoing debate among analysts about the valuation and near-term upside potential.(Investing)
Despite differing views on valuations and growth trajectory, many analysts emphasize Snowflake’s strong fundamentals, including solid revenue beats in recent quarterly results and expanding AI capabilities integrated into its Cortex platform — a key catalyst that bulls argue will translate into durable competitive moats.(Investing)