July 29, 2026·Bullish·institutional

Wells Fargo Sets $500 Snowflake Target on AI Growth

Wells Fargo raised its price target for Snowflake ($SNOW) to $500, implying an 85% upside from current levels. Analyst Ryan MacWilliams argued that AI concerns are misplaced, as AI agents are driving increased usage and data ingestion into Snowflake's platform.

Detected & updated continuously · Source: Nebula

Sources

@Benzinga

Wells Fargo raised Snowflake ($SNOW) to a $500 target, implying about 85% upside. Analyst Ryan MacWilliams says AI fears had the story backwards. Agents are driving more usage and data into Snowflake, without the capex burden facing hyperscalers.