Wedbush Securities has upgraded Snowflake Inc. ($SNOW) from a Neutral to an Outperform rating, setting a price target of $190. The firm cited optimism regarding the company's ability to leverage artificial intelligence in its operations, particularly as it transitions from an optimization phase to a growth phase. Analyst Dan Ives noted improvements in quarter-over-quarter product revenue additions as Snowflake prepares for a significant fiscal year 2026 driven by AI use cases. Following the announcement, Snowflake's stock has risen approximately 34% to over $171 since its third-quarter earnings report, which revealed a 28% year-over-year revenue increase to $942.1 million, with product revenues up 29% year-over-year to $900.3 million. The company has also reported a gross profit of $636.7 million, reflecting a 71% gross margin, and an increase in customers generating over $1 million in trailing twelve months product revenues, which rose by 25% to 542.