Snowflake Inc.AWS deal and blowout earnings with strong AI adoption and RPO growth

Snowflake shares have surged to $230 following a $6 billion multi-year AWS collaboration and blowout first-quarter earnings, but 24/7 Wall St. says the stock is unlikely to reach $300 this year. The firm rates Snowflake a buy with a price target of $262.17, implying 13.78% upside from current levels. CEO Sridhar Ramaswamy called the quarter a clear inflection point as remaining performance obligations hit $9.21 billion and over 13,600 accounts now use Snowflake AI. Bears highlight a 118-times forward earnings multiple and a $326 million GAAP operating loss, though $233 million in quarterly free cash flow supports the bullish case. The bull scenario projects $306.45 by June 2027, while the bear case sees a decline to $215.46.
Snowflake Inc.AWS deal and blowout earnings with strong AI adoption and RPO growth
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