Wall Street Thinks Hard-Hit SNOW Stock Can Gain 40% in 2026. Should You Buy Snowflake Now?

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===h&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(no)),notifLabel:document.querySelector(".".concat(oo))};t.notifDropdown&&mo(e,t)}))}()}};]]>Aditya RaghunathWed, March 4, 2026 at 5:18 PM GMT+1 4 min readShares of Snowflake (SNOW) have taken a beating in recent weeks. Valued at a market cap of $57.6 billion, SNOW stock is down over 40% from its 52-week high, but analysts seem to believe it can make those losses back, and then some. The software sector selloff has been broad and, some would argue, indiscriminate.But one major Wall Street firm says the market is missing the forest for the trees and that the ongoing pullback could be a buying opportunity in the artificial intelligence space right now.Dear Costco Stock Fans, Mark Your Calendars for March 5SanDisk Stock Forecast: Can the Rally Continue Into 2026?Dear Broadcom Stock Fans, Mark Your Calendars for March 4Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines.Here's what investors need to know.www.barchart.comThe recent AI-driven selloff hasn't spared anyone. Evercore ISI analyst Julian Emanuel put it plainly in a note to investors Monday, describing the market's recent behavior as "sell first, ask questions later."The firm argued that shares have been marked down regardless of a company's “business model, strategy, moats or AI earnings potential.” This blanket punishment may not be fair to all companies caught in the crossfire.Evercore ISI singled out Snowflake as one of the eight stocks best positioned to benefit from AI adoption. The firm specifically called SNOW stock a "scaffolding" name, alongside Microsoft (MSFT), meaning it sees the company as critical underlying infrastructure for enterprise AI, not just another application riding the hype.Analyst Kirk Materne said most investors will take a "wait and see" approach but that a real disconnect exists between how the market is treating software stocks and what the fundamentals actually show.Snowflake is a cloud-based data platform. Think of it as the place where large companies store, organize, and analyze their most valuable data. Its customers pay based on how much computing they consume, not a flat monthly fee.That distinction matters. As companies push to deploy AI tools internally, they need a trusted, secure foundation to run those tools on.And the early results from its fiscal fourth quarter 2026 earnings, reported Feb. 25, suggest the bet is paying off.Product revenue grew 30% year-over-year (YoY) to $1.23 billion.The company added 740 net new customers in the quarter alone, up 40% YoY.And remaining performance obligations, basically contracted future revenue, hit $9.77 billion, with growth accelerating to 42%.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,847.00 +11.75 (+0.17%)Dow Futures48,096.00 +113.00 (+0.24%)Nasdaq Futures25,111.75 +62.25 (+0.25%)Russell 2000 Futures2,599.60 +13.20 (+0.51%)VIX23.75 +2.60 (+12.29%)Gold5,141.90 +63.20 (+1.24%)Trending tickersMRVL Marvell Technology, Inc. 75.68 -2.41 (-3.09%)COST Costco Wholesale Corporation 982.57 -24.17 (-2.40%)GE GE Aerospace 326.99 -12.82 (-3.77%)GAP The Gap, Inc. 27.20 -0.54 (-1.95%)IOT Samsara Inc. 29.58 +0.89 (+3.10%)PortfolioSign in to access your portfolioSign inTop gainersSOC Sable Offshore Corp. 13.85 +3.76 (+37.26%)TNGX Tango Therapeutics, Inc. 16.83 +4.48 (+36.28%)TTD The Trade Desk, Inc. 29.79 +4.62 (+18.36%)EXPE Expedia Group, Inc. 251.54 +30.29 (+13.69%)UNF UniFirst Corporation 262.76 +31.50 (+13.62%)Top losersAEO American Eagle Outfitters, Inc. 19.33 -3.12 (-13.90%)HYMC Hycroft Mining Holding Corporation 41.06 -6.61 (-13.86%)IE Ivanhoe Electric Inc. 13.64 -2.02 (-12.90%)CIEN Ciena Corporation 299.30 -44.25 (-12.88%)IESC IES Holdings, Inc. 426.01 -61.76 (-12.66%)Most activeNVDA NVIDIA Corporation 183.34 +0.30 (+0.16%)AAL American Airlines Group Inc. 11.79 -0.67 (-5.38%)PLUG Plug Power Inc. 2.2900 -0.1900 (-7.66%)ONDS Ondas Inc. 10.49 -0.02 (-0.19%)TTD The Trade Desk, Inc. 29.79 +4.62 (+18.36%)Top economic eventsEarnings eventsMy earnings eventsEarnings events