Movement Alert｜Snowflake Rises 3.18% in Regular Trading, Sector Rebound and Multiple Investment Bank Upgrades Provide Lift

Market Focus07-13 22:36

On July 13, Snowflake rose 3.18% in regular trading, trading at $269.32/share, with turnover of $201 million. The rebound follows a 3.05% decline on July 11 when the Internet Infrastructure sector came under broad selling pressure.

On the sector front, peers including Cloudflare (+2.18%) and MongoDB (+0.88%) also recovered, signaling a stabilization in the broader infrastructure space. Meanwhile, multiple investment banks have recently reiterated bullish stances: UBS raised its price target to $370, Deutsche Bank lifted its target to $300, and both maintained Buy ratings. Oppenheimer highlighted differentiation potential from Snowflake's strategic shift toward agentic AI, citing its Cortex Code and Cowork agents as competitive edges in delivering production-grade, governed AI at scale.

Additionally, the company's deepened partnership with Anthropic to accelerate enterprise AI commercialization through Cortex AI, along with ARK Invest's earlier accumulation of shares, continues to provide medium-term support for the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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