Snowflake's AI tools boost productivity and sales, with Jefferies rating 'Buy' and $300 target.

Jefferies analysts reaffirmed a 'Buy' rating and $300 price target on Snowflake after its investor day highlighted growing commercial success of its AI tools, especially CoCo, which enhances customer workflows and data management. The AI-driven improvements are speeding up customer adoption and migrations, improving productivity rather than creating new workloads. Financially, Jefferies raised earnings estimates slightly and sees Snowflake achieving GAAP profitability by late 2028, with valuation attractive compared to peers.