Key facts
- Snowflake stock reached a 52-week high of $280.72.
- Oppenheimer analyst raised Snowflake's price target to $295.
- The analyst cited increased consumption driven by Cortex code.
- Oppenheimer downgraded its rating on Snowflake.
Oppenheimer's analysis suggests that Snowflake's new Cortex code is positively impacting its product usage, leading to an increased price target. The stock reaching a 52-week high indicates strong recent performance, despite the mixed analyst rating.