12 AI Stocks in Focus on Wall Street: Tesla, Meta, and More

8. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 90

Even though the Snowflake story may seem risky to some, one research firm believes its long-term growth story remains intact. Snowflake Inc. (NYSE:SNOW) is eighth on our list of 12 AI Stocks in Focus on Wall Street.

On April 21, UBS analyst Karl Keirstead lowered the price target on the stock to $210.00 (from $235.00) while maintaining a “Buy” rating.

Even though AI disruption risks has driven stock weakness lately, UBS believes that there is confidence in the company’s long-term growth and data investment cycle. Shares, the firm noted, are down more than 34% year-to-date despite fundamental outlook remaining solid.

Snowflake shares are -34% YTD despite a FY27 outlook for stable high-20%/30% revs growth and exposure to a still-strong enterprise data investment cycle.

The firm believes that this weakness stems from investor concern surrounding AI disruption. In particular, there is this concern that AI models such as those from OpenAI and Anthropic may disrupt “even the heretofore “safe” data software market over time.”

While these risks exist, the firm believes concerns are manageable. The AI risks are objectively discussed but the firm remains Buy rated, reflecting optimism.

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