Bank J. Safra Sarasin Research Hub

Bank J. Safra Sarasin has adopted a tactically bullish outlook on Snowflake, initiating a long position with a defined $200 price target. The firm’s investment thesis centers on the anticipated impact of the company's AI-driven product suite, specifically Snowflake Intelligence and Cortex AI, as key catalysts for upcoming quarterly performance. Research indicates that AI-integrated features are currently embedded in 50% of bookings, signaling robust enterprise adoption. Furthermore, analysts highlight the 'text-to-SQL' functionality as a significant driver for increasing the base of billable users. Given that management’s fiscal year 2027 revenue guidance is viewed as conservative, the bank expects data from imminent results to validate the firm's model of accelerating AI consumption scaling.