Visa and Snowflake Soar to New Highs Amid Bullish Earnings and Price Targets

Visa (V) and Snowflake (SNOW) have reached new 52-week highs, driven by positive earnings reports and price target hikes from Wall Street analysts.

Visa reported a stronger-than-expected third-quarter performance with revenue rising 14% year over year to $11.63 billion. Earnings also increased 11% to $3.32 per share, beating analyst expectations. The company raised its full-year outlook, and multiple analysts, including Morgan Stanley, UBS, and Citi, have boosted their price targets on the stock.

Morgan Stanley maintained its 'Overweight' rating on Visa, citing the company's diversified global network, which continues to be underestimated by investors despite an uncertain economic backdrop. Citi raised its target to $440 from $400, while UBS lifted its price target to $420 from $410.

Snowflake, meanwhile, received a vote of confidence from Wells Fargo, which increased its price target by more than 56% to $500 and maintained an 'Overweight' rating. The firm believes Snowflake is positioned as a near-term AI beneficiary due to its ability to gain from enterprise AI adoption without heavy capital spending or dependence on a specific AI model.