Goldman Sachs Massively Resets Snowflake Stock Price Target for 2026

Goldman Sachs has massively reset its price target for Snowflake (SNOW) stock for 2026, according to a report from TheStreet. The revision follows a sharp 50% decline in the stock from its January 2026 high to an April low, based on TradingView data.

Rating Change

The report did not specify the previous or new price target explicitly, but noted that Goldman Sachs made a "massive reset." It also did not clarify whether the rating changed from Buy to Neutral or Sell.

Analyst Rationale

Goldman Sachs analysts believe Snowflake faces a dual challenge: a decelerating core business (data storage and analytics) and a murky AI narrative that the company hoped would drive growth. This has eroded investor confidence and pressured the stock.

Context

Snowflake was a stock Wall Street couldn't figure out in February and March 2026. While some analysts bet on its AI potential, others pointed to slowing revenue growth and increased competition. Goldman's downgrade adds to the pressure.

What to Make of It

Goldman's revision reflects near-term uncertainty around Snowflake. Investors should watch upcoming quarterly reports to assess whether the company can turn AI into a real growth driver.