---
title: "Wall Street Is Starting To Warm Up To Snowflake Again"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286284956.md"
description: "Snowflake is regaining investor interest as Oppenheimer reports increased customer engagement and demand for its AI products. Analyst Ittai Kidron notes strong adoption of Cortex and Snowflake Intelligence, indicating a growing role in enterprise AI. Despite competition from Databricks, many companies are using both platforms. Oppenheimer expects Snowflake's product revenue to exceed consensus estimates by 1.5% to 2%, while maintaining an Outperform rating and a $250 price target on the stock."
datetime: "2026-05-13T15:09:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286284956.md)
  - [en](https://longbridge.com/en/news/286284956.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286284956.md)
---

# Wall Street Is Starting To Warm Up To Snowflake Again

Snowflake is starting to regain momentum with investors after fresh checks from Oppenheimer pointed to rising customer engagement and stronger interest in the company's AI-related products heading into earnings season.

According to Oppenheimer analyst Ittai Kidron, recent conversations and channel checks suggest demand picked up toward the end of the quarter, with growing traction around Cortex and Snowflake Intelligence, the company's push to build AI capabilities directly on top of its core analytics platform.

Kidron also highlighted strong adoption trends around Cortex Code, reinforcing the view that Snowflake is beginning to carve out a more meaningful position in the enterprise AI race.

The note also suggested a large deal activity remains healthy despite a highly competitive environment, particularly against Databricks. But rather than one platform fully replacing the other, Oppenheimer believes many enterprises are increasingly using both side by side, with Snowflake remaining stronger in analytics and data warehousing while Databricks leans more heavily into data engineering workloads.

Kidron said Snowflake's recent gains appear to be coming largely from companies migrating away from older legacy systems tied to Teradata, Oracle, Microsoft and AWS based analytics tools.

Oppenheimer now expects product revenue could come in roughly 1.5% to 2% above consensus estimates, although the firm also noted tougher year over year comparisons ahead following Snowflake's unusually strong performance in the same quarter last year.

The firm maintained its Outperform rating and $250 price target on the stock.

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