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Citi Cuts Snowflake (SNOW) Price Target to $270 but Maintains Buy Rating
Citi Cuts Snowflake (SNOW) Price Target to $270 but Maintains Buy Rating
Sajjl Nooranne
Sun, February 22, 2026 at 9:24 PM GMT+9 2 min read
In this article:
SNOW
-3.74%
MSFT
-0.31%
We recently published an article titled 12 Best Data Storage Stocks to Buy Right Now.
On February 18, Citi lowered its price target on Snowflake Inc. (NYSE:SNOW) to $270 from $300 while maintaining a Buy rating. The firm attributed the stock’s 30% pullback following fiscal third-quarter results to a smaller-than-typical earnings beat and broader software sector concerns related to artificial intelligence spending. Citi characterized the decline as excessive, emphasizing Snowflake’s resilient, consumption-based model and describing it as one of the more AI-resilient platforms in the sector.
On February 2, Snowflake Inc. (NYSE:SNOW) announced a multi-year $200 million agreement with OpenAI aimed at providing its 12,600 global customers with direct access to OpenAI’s models through Snowflake Cortex AI, its native engine for generative AI and machine learning workloads. The partnership also enables access to AI agents across deployments on Amazon Web Services, Microsoft Azure, and Google Cloud Platform. This strategic collaboration enhances Snowflake’s AI ecosystem integration, strengthens its competitive differentiation, and supports incremental workload expansion on its platform. As AI adoption accelerates, Snowflake’s expanding partnerships and durable consumption model position it for sustained revenue growth and long-term value creation.
Snowflake Inc. (NYSE:SNOW), headquartered in Bozeman, Montana, operates a cloud-based data platform that enables organizations to consolidate, analyze, and securely share large-scale data with high performance and minimal latency.
While we acknowledge the potential of SNOW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 8 Up and Coming Streaming Companies and Services and 11 Best Canadian Growth Stocks to Buy According to Hedge Funds.
Disclosure: None.
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