Snowflake added as new long idea at Hedgeye

[Snowflake corporate headquarters in Silicon Valley]
Sundry Photography/iStock Editorial via Getty Images

Snowflake (NYSE:SNOW [https://seekingalpha.com/symbol/SNOW]) was added as a new long idea at Hedgeye with upside to $285 to $340 a share.

"Snowflake delivered a standout Q2FY26 that exceeded expectations across all key metrics, with product revenue accelerating to 31.5% YoY growth (vs. 26.2% in Q1) and management raising full-year guidance," Hedgeye analyst Andrew Freedman wrote in a note on Thursday. "The results validate our thesis that Snowflake is successfully transforming from a pure data warehouse into the comprehensive central nervous system for enterprise AI and data infrastructure."

The Q2 results "definitively answered questions about the company's ability to reaccelerate growth while expanding profitability," Freedman added. "The combination of a strengthening core business, rapidly growing AI adoption, accelerating new customer acquisition, and improving unit economics creates a compelling setup for sustained outperformance."

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