DELL, SNOW Stocks Extend Their Relentless Rallies – Here’s Why Wall Street Sees Further Upside

SNOW shares hit near five-year highs while DELL stock climbed to a record level as Wall Street raised targets after strong second-quarter performances.

• Monness Crespi believes Snowflake is well positioned to benefit from AI innovation.
• Truist said AI could help accelerate customer migrations and bring more workloads onto Snowflake’s platform.
• Deutsche Bank raised Dell’s target to $520 from $480 while keeping a ‘Hold’ rating, according to The Fly.

Snowflake (SNOW) and Dell Technologies (DELL) shares jumped on Thursday after better-than-expected second-quarter results and stronger forecasts prompted analysts to raise their price targets, citing growing AI-driven demand.

At the time of writing, SNOW shares were up by 22% at their highest levels since November 2021. DELL stock rose 5% to an all-time high.

SNOW’s ‘Exceptional’ Quarter Signals AI Promise

Snowflake received a string of price target hikes on Thursday after strong second-quarter (Q2) results and an improved full-year outlook. Monness Crespi raised its price target to $450 from $380 and maintained a ‘Buy’ rating, calling the quarter “exceptional.” The firm believes Snowflake is well positioned to benefit from AI innovation. Truist said AI could help accelerate customer migrations and bring more workloads onto Snowflake’s platform.

Second-quarter revenue rose 37% to $1.49 billion, topping estimates of $1.48 billion, while earnings of $0.62 per share beat the $0.45 consensus, according to Fiscal.ai. Snowflake also raised its full-year product revenue forecast to about $6.07 billion and guided for third-quarter revenue of $1.59 billion, both above Wall Street expectations.

Retail sentiment for SNOW on Stocktwits remained ‘extremely bullish’ over the past 24 hours, amid ‘extremely high’ message volumes. SNOW shares added more than 68% so far in 2026.

Mizuho Highlights Strong Tailwinds From Agentic AI, AI Servers

Dell Technologies (DELL) continued to receive price target boosts following a blowout Q2 earnings report and an improved full-year outlook. Deutsche Bank raised the target to $520 from $480 while keeping a ‘Hold’ rating, according to The Fly.

Earlier this week, Dell raised its fiscal 2027 revenue forecast to about $192 billion, a massive $25 billion hike from its earlier guidance of $167 billion. Second-quarter revenue jumped 58% to $47 billion, beating estimates of $44.50 billion, while earnings of $7.04 per share topped expectations of $4.90 per share, according to Fiscal.ai.

Raymond James said Dell’s higher outlook suggests AI demand is also boosting its traditional computing and storage businesses. Mizuho highlighted strong tailwinds from agentic AI, AI servers and higher-margin storage products sold alongside those servers. Meanwhile, BofA raised Dell’s FY27 revenue and EPS estimates after its AI server revenue, orders and backlog came in “much higher” than expected.

Retail sentiment for DELL on Stocktwits remained ‘extremely bullish’ over the past 24 hours, amid ‘extremely high’ message volumes. DELL shares have gained more than 300% so far this year.

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