Explore the latest developments concerning Snowflake shares rise.
Snowflake shares rise after BofA raises price target, predicts strong earnings next week
Snowflake shares jumped after Bank of America Securities analysts raised their price target for the cloud data warehousing company to $205 from $195, with a “buy” rating.
BofA analysts wrote that Snowflake will have a strong quarter because “the robust demand it was seeing heading into this year should continue unabated.” The report called the stock a “a share gainer in the attractive and growing AI business intelligence opportunity.”
Snowflake shares are down about 20% year to date. In November, shares hit a 52-week high of $280.67.
Roblox rallied in postmarket trading on Tuesday after unveiling its first-ever share repurchase program.
The somewhat controversial, but certainly popular, gaming company has put forth a plan for $3 billion in future stock buybacks, with the intention to back up to $1 billion over the next twelve months. The stock subsequently jumped 4% after-hours.
Snowflake (SNOW) Stock Is Up, What You Need To Know
Shares of cloud data platform provider Snowflake SNOW jumped 4% in the afternoon session after investor confidence rebounded as markets softened their view on the existential threat AI poses to traditional software companies.
After a period of significant underperformance, dubbed the "SaaS Rout of 2026," where software stocks traded at a discount to the S&P 500, the prevailing fear that AI would completely disrupt and replace traditional Software-as-a-Service (SaaS) companies began to subside.
Experts noted that these companies possess significant advantages, including established enterprise relationships, vast amounts of proprietary data, and deep integration into customer workflows, which AI is unlikely to erase overnight. This changing perspective suggests a potential re-rating for the sector as investors realize these companies may be well-positioned to integrate and leverage AI rather than be replaced by it.
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