Does Snowflake’s Healthcare AI Data Cloud Push and Q3 Results Change The Bull Case For SNOW?

• Earlier this month, TileDB announced TileDB Carrara as a Snowflake Connected App for Healthcare & Life Sciences, while Snowflake reported fiscal Q3 2026 results featuring 29% year-over-year revenue and product revenue growth alongside increased AI-related investment and more measured forward guidance.
• Together with new initiatives like the Open Semantic Interchange project and ExecAtlas integration, these developments highlight Snowflake’s push to embed its AI Data Cloud more deeply into complex, highly regulated enterprise workflows such as healthcare analytics and executive intelligence.
• We’ll now examine how Snowflake’s heavier AI investment and expanding healthcare-focused integrations might influence its long-term investment narrative and risk profile.

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Snowflake Investment Narrative Recap

To own Snowflake, you have to believe its AI Data Cloud can stay central as enterprises modernize data and analytics, even as competition and AI itself threaten its core model. The latest results and guidance reset keep the key near term catalyst focused on broader AI and analytics adoption, while also reinforcing the main risk that higher AI spend and slower product growth could weigh on margins and sentiment; the recent news does not materially change that equation.

Among the recent updates, the TileDB Carrara Connected App for Healthcare & Life Sciences looks especially important, because it shows Snowflake’s AI platform being pulled into complex, multimodal healthcare data workflows where compliance, security and performance really matter. If Snowflake can turn these kinds of deep, regulated use cases into durable AI workloads rather than one off migration spikes, it would directly support the long term AI driven usage growth that many shareholders are counting on.

But even as AI centric deals grow, investors should be aware that...

Read the full narrative on Snowflake (it's free!)

Snowflake's narrative projects $7.8 billion revenue and $497.5 million earnings by 2028. This requires 23.8% yearly revenue growth and an earnings increase of about $1.9 billion from -$1.4 billion today.

Uncover how Snowflake's forecasts yield a $281.73 fair value, a 27% upside to its current price.

Exploring Other Perspectives

Twelve fair value estimates from the Simply Wall St Community span roughly US$152 to US$282 per share, underlining how far apart views on Snowflake’s worth can be. When you weigh that diversity against Snowflake’s heavy AI investment and the risk that new AI products may take time to monetize at scale, it becomes even more important to compare several independent views before forming your own stance.

Explore 12 other fair value estimates on Snowflake - why the stock might be worth 32% less than the current price!

Build Your Own Snowflake Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Snowflake research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.
• Our free Snowflake research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Snowflake's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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