Goldman Sachs massively resets Snowflake stock price target for 2026

May 31, 2026 - 03:30

Wall Street has struggled to make sense of Snowflake in recent months, and Goldman Sachs just added more uncertainty. The investment bank has dramatically reset its price target for Snowflake shares heading into 2026, reflecting a darker outlook for the data cloud company.

According to TradingView data, Snowflake stock has already taken a beating. From a peak in early January 2026, shares plunged roughly 50% by early April. That steep decline has left investors questioning whether the company can regain momentum. The problem, analysts say, is a split personality. On one side, Snowflake's core business is slowing down. On the other, the company keeps pushing an artificial intelligence narrative that has yet to deliver real results. That gap between promise and performance has made the stock hard to value.

Goldman Sachs now sees even more downside ahead. The revised target suggests that Snowflake may not recover quickly, especially as competition heats up in the data warehousing space. The AI story, while exciting in theory, has not translated into the kind of growth that justifies the stock's earlier premium. For now, the market seems to be waiting for proof that Snowflake can accelerate again. Until then, the reset from Goldman Sachs is a sobering signal that the road ahead may be longer and harder than many hoped.