---
title: "'An Optimistic Outlook': Snowflake Stock Rises after Evercore Lifts Price Target"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295436890.md"
description: "Snowflake (SNOW) stock rose after Evercore analyst Kirk Materne raised his price target to $360, maintaining a Buy rating. A survey of partners indicated an optimistic outlook, with improving demand driven by AI products like Cortex and larger customer projects. While competition from Databricks and cloud giants remains a risk, Wall Street maintains a Strong Buy consensus on SNOW."
datetime: "2026-08-10T18:04:47.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295436890.md)
  - [en](https://longbridge.com/en/news/295436890.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295436890.md)
---

# 'An Optimistic Outlook': Snowflake Stock Rises after Evercore Lifts Price Target

A recent survey revealed "an optimistic outlook" for cloud provider Snowflake (SNOW), according to Evercore analyst Kirk Materne, who kept a Buy rating and raised his price target to $360 on the stock. For reference, Materne is a 4.5-star-rated analyst with a 56% success rate and an average return of 7.5% per rating. As a result, he is ranked #1,413 out of 12,465 Wall Street analysts.

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Importantly, his latest survey of 15 large Snowflake partners found that demand is improving due to more interest in artificial intelligence products and bigger customer projects. In addition, about 73% of partners said that their Snowflake business has gotten better compared with three to six months ago, up from 67% in the previous survey.

Even more encouraging, some of Snowflake's biggest partners, each with more than $100 million tied to their Snowflake practices, said that conditions have improved significantly. At the same time, more large deals are starting to show up. Around 66% of partners said that the pipeline for major transformation projects has improved, compared with only 46% last quarter. Essentially, this means that more customers appear willing to consider bigger Snowflake projects.

## **AI Is a Main Reason**

As already mentioned, AI seems to be one of the main reasons for this improvement. Interestingly, partners are increasingly pointing to Snowflake's Cortex products as a growth driver. Cortex AI Functions are gaining traction, with about 80% of partners saying that performance has improved. Tools such as CoCo are also helping customers use more of Snowflake's platform, which can increase consumption and revenue.

However, there are still some risks. Databricks is becoming a stronger competitor, along with large cloud companies. Some partners also said that big contracts are taking longer to close because customers are spending more time reviewing budgets and approving spending.

## **Is SNOW Stock a Good Buy?**

Overall, Wall Street analysts have a Strong Buy consensus rating on SNOW stock based on 33 Buys, three Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average SNOW price target of $310.35 per share implies 7.6% downside risk. (See SNOW Stock Forecast).

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