10 Must-Watch AI Stocks on Wall Street

6. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 94

Snowflake Inc. (NYSE:SNOW) is one of the 10 Must-Watch AI Stocks on Wall Street. On August 13, UBS analyst Karl Keirstead lowered the price target on the stock to $250.00 (from $265.00) while maintaining a Buy rating.

The rating affirmation comes ahead of UBS analyst Karl Keirstead who consulted with nine partners and customers to assess Snowflake’s recent demand trends and second-half outlook.

“Ahead of Snowflake’s 2Q/Jul print on Wed Aug 27th, we caught up with 9 partners and customers to assess how demand tracked over the last few months and get a pulse check on the likely 2H outlook. Bottom line, most customers are still prioritizing investments in their data foundations and in data analytics, a rising tide that is boosting Snowflake as well as Databricks, Palantir, the hyperscalers and even Salesforce’s Data Cloud. We maintain our view that the 12x/46x CY26E revs/FCF multiples don’t seem unreasonable if Snowflake’s growth is trending towards 30%, the data investment cycle has duration and margins are biased up.”

Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company providing a data analysis, storage, and sharing platform.