New York, February 9, 2026, 19:47 EST — After-hours
- Snowflake (SNOW) climbed roughly 4.6% Monday, standing out in a software sector that took some hits.
- Jefferies stuck with its Buy rating and maintained the $300 price target, saying the selloff has overshot.
- This week, traders are eyeing upcoming U.S. inflation numbers and Snowflake’s results due Feb. 25.
Shares of Snowflake Inc (SNOW) jumped 4.6% to $175.95 late Monday, after bouncing around between $166.33 and $177.50 through the day. Roughly 8.8 million shares changed hands.
Software shares caught a bid Monday, clawing back after last week’s bruising drop that had investors worried AI might ratchet up rivalry and eat into profits. The S&P 500 software services index posted a 2.9% gain. “A little bit of good news can go a long way” when the market’s this beat up, Keith Lerner, chief investment officer at Truist Advisory Services, told Reuters. 1
Snowflake’s clock is ticking ahead of its Feb. 25 earnings release. That date typically serves as a reset button for investors sizing up customer usage and enterprise spending patterns. 2
Jefferies’ Brent Thill isn’t buying the doom in software. He maintained his Buy call on Snowflake, sticking with a $300 target, and called the recent selloff “too harsh.” Microsoft and Intuit made his list of “buy-the-dip” plays, too. Thill argues software names able to pivot with the AI wave can still come out on top. 3
Snowflake’s cloud data platform supports companies with information storage, movement, and analytics. Because its revenue is tied to how much customers use the service, the stock tends to swing sharply—diving when clients pull back on budgets, rebounding just as fast once major data initiatives pick up again.
Macro pressures haven’t gone far. The U.S. consumer price index for January lands Feb. 13, a number that tends to jolt Treasury yields and shake up growth stocks tied to long-term earnings bets. 4
Snowflake is keeping the focus on AI. Just earlier this month, the company unveiled a $200 million deal with OpenAI—an effort to bring advanced AI models onto the Snowflake platform. The pitch: let customers tap into AI with their own data. 5
Still, the rebound hasn’t put last week’s debate to rest. Snowflake’s prospects could sour if AI leads big cloud players to pack in more features or if corporate buyers get skittish again. In that scenario, the shares might not hang onto recent gains for long.
When the U.S. session picks up, eyes will be on software stocks and if Snowflake keeps its advance. The real test comes Feb. 25—that’s when Snowflake posts earnings and updates guidance.
