10 AI Stocks That Are About to Explode

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6. Snowflake Inc. (NYSE:SNOW)

Average Price Target Upside Potential According to Analysts: 44.79%

Number of Hedge Fund Holders: 90

Snowflake Inc. (NYSE:SNOW) ranks among AI stocks that are about to explode. On May 19, Benchmark increased its price target on Snowflake Inc. (NYSE:SNOW) from $190 to $200 and kept its Buy rating.

The research firm expects the company to report product revenue and operating income above market expectations. Benchmark noted that Snowflake Intelligence, Cortex Code, and Observe are helping drive AI adoption across over 9,000 accounts. According to the firm, cloud consumption and generative AI workloads are expected to support increased usage of Snowflake Inc.’s (NYSE:SNOW) AI Data Cloud.

In other news, on May 15, RBC Capital reduced its price target on Snowflake Inc. (NYSE:SNOW) from $245 to $220 and maintained its Outperform rating on the stock.

This update comes as part of a broader research note by the firm previewing Q1 results for software companies. RBC Capital pointed out that the outlook for Snowflake Inc. (NYSE:SNOW) is tricky but favorable. According to the firm, strong checks and growing adoption of Cortex Code could help the company deliver strong first-quarter results with no deceleration to modest acceleration in product revenue.

Snowflake Inc. (NYSE:SNOW) is an American cloud-based data platform company. It offers an AI Data Cloud platform, which enables organizations to build, use, and share data, applications, and AI.

While we acknowledge the potential of SNOW to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNOW and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 AI Stocks That Are About to Explode.

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