New York, February 9, 2026, 14:12 EST — Regular session
Snowflake Inc (SNOW) climbed 3.4% to $174.10 in Monday afternoon trading. The stock bounced around, hitting lows of $166.33 and reaching as high as $176.15. Volume came in at roughly 5.5 million shares.
Investors are sifting through bruised software stocks, hashing out just how much artificial intelligence could shift pricing power. With Snowflake, it’s all about a single question: do clients keep pouring money into cloud data workloads, or is another round of belt-tightening about to hit?
Jefferies’ Brent Thill pushed back on “AI fears” in a Sunday note, sticking with his Buy call on Snowflake and leaving his $300 target untouched—far north of where shares landed Monday. Thill also flagged Microsoft and Intuit as names to scoop up on weakness. 1
U.S. tech stocks snapped back, dragging the market higher as bargain hunters came in following last week’s slide. “On the stock front, it seems to be the traditional buy-the-dip by retail investors,” said Oliver Pursche, senior vice president and advisor at Wealthspire Advisors. Investors looked ahead to U.S. payrolls data set for Wednesday, with inflation numbers landing Friday. 2
Snowflake investors are now looking ahead to the company’s upcoming earnings release. Fiscal fourth-quarter and full-year 2026 numbers are due out on Feb. 25. 3
Traders are watching guidance and customer activity closely, because Snowflake’s revenue hinges on how much clients actually use the service — it’s all consumption-based. The headline numbers matter, but the market cares more about what’s next.
Even with Monday’s move higher, the stock’s recent volatility remains in view. Rate bets in this market can flip on a dime, and high-growth software names are known to surrender gains just as quickly as they notch them.
There’s a chance the AI squeeze narrative makes a comeback. Should customers push for cheaper rates or start giving more business to competitors, Snowflake might find itself having to ramp up investment in both its product and sales teams just to keep growth on track.
Investors are eyeing whether the stock can keep its rebound through the close. Attention also turns to sentiment across the software space over the coming sessions. The next major marker: Feb. 25.
