TD Cowen reiterates Buy on Snowflake, keeps $255 target ahead of earnings

TD Cowen reiterated a Buy rating on Snowflake on May 22 and kept its $255 price target ahead of the company’s next earnings report, according to Investing.com. The brokerage’s target was unchanged from the level it set in February, when it lowered its view from $270 while maintaining the same rating. Investing.com said Snowflake was trading around $171.27 at the time of the latest note, leaving implied upside of roughly 49%. That call landed as Snowflake picked up a separate catalyst from Washington. The U.S. General Services Administration said on May 21 that it had signed a OneGov agreement with Snowflake that gives federal agencies access to the company’s platform at discounts of up to 50%, part of the agency’s push to broaden government use of AI and data tools. GSA said the agreement is intended to help agencies modernize IT and streamline data operations. (investing.com) ### Why did TD Cowen stick with the same target? TD Cowen’s May 22 note, as summarized by Investing.com, did not change the firm’s headline stance: Buy, with a $255 target. That target matches the level TD Cowen set on February 26, when Investing.com reported the bank had cut its price target from $270 on valuation grounds but kept its positive rating. The timing matters because Snowflake is approaching earnings. (gsa.gov) Investing.com’s market page for Snowflake listed the company’s next earnings date as May 26, 2026, making the reiteration part of the usual pre-report positioning by analysts and investors. ### What changed on the federal side? The General Services Administration announced the Snowflake agreement on May 21, one day before the analyst note highlighted in the card. (investing.com) GSA said federal agencies can save up to 50% on Snowflake tools through the new OneGov arrangement, and described the deal as a way to accelerate adoption of data-driven technology across government. (in.investing.com) Snowflake, in its own blog post about the agreement, said the arrangement is aimed at helping federal workers break down data silos, improve mission effectiveness and speed IT modernization. GSA’s AI procurement page separately lists OneGov agreements as part of its current buying framework for artificial intelligence tools. ### How did the stock react? StockStory reported that Snowflake shares rose 4.1% in afternoon trading after the GSA announcement expanded federal agency access to the company’s cloud data platform. (gsa.gov) That move fit a pattern of high volatility in the stock, according to StockStory’s broader coverage of Snowflake, which has repeatedly pointed to large single-day swings over the past year. Investing.com’s Snowflake quote page showed the stock closing at $165.54, with a 52-week range of $118.30 to $280.67 and a market capitalization of about $59.46 billion. (snowflake.com) Those figures provide the backdrop for why a $255 target still stands well above current trading levels even after the recent rebound. ### Where does Wall Street stand beyond TD Cowen? TS2, cited in the source briefing, said Snowflake’s consensus analyst rating remained “Moderate Buy” with an average target price of $242.19, while some firms had targets as low as $205. (stockstory.org) That leaves TD Cowen above the consensus average but still within the range of bullish views on the stock. Investing.com also showed Reuters-listed Snowflake headlines and recent analyst coverage clustered around earnings, underscoring that the next company report is the immediate focal point for the stock. (in.investing.com) ### What comes next for Snowflake? May 26, 2026 is the next dated milestone investors can point to, with Investing.com listing that as Snowflake’s earnings date. The other near-term marker is the rollout of the GSA OneGov agreement, which GSA said makes Snowflake available to federal agencies at discounted pricing as those agencies evaluate AI and data modernization purchases. (in.investing.com) (investing.com)