13 High Growth Cloud Stocks to Buy

7. Snowflake Inc. (NYSE:SNOW)

3-year Revenue Growth: 43.81%

Number of Hedge Fund Holders: 102

On January 30, Bank of America lowered its price target on Snowflake Inc. (NYSE:SNOW) to $275 from $310 while maintaining a Buy rating on the shares. The firm continues to view Snowflake as a top pick within infrastructure software, noting that the adjustment reflects a revised valuation framework rather than a deterioration in fundamentals. BofA cited updated growth assumptions, risk considerations, and broader peer multiple compression as the primary drivers behind the target change, while reiterating confidence in Snowflake’s long-term positioning within the AI-driven data cloud market.

From a corporate governance standpoint, Snowflake disclosed on January 28, 2026, that board member Jeremy Burton resigned from the Board and its committees effective January 30, following the company’s acquisition of Observe, Inc., which closed on February 2, 2026. The company emphasized that Burton’s departure was procedural and not related to any disagreement regarding operations or strategy. Snowflake Inc. (NYSE:SNOW) highlighted that the transaction was approved through a special committee of independent directors and the Audit Committee, signaling a disciplined approach to governance and conflict management as it integrates Observe into its platform.

Snowflake is a cloud-based data platform company founded in 2012, enabling organizations to analyze and share data at scale with low latency across multiple workloads. Headquartered in Bozeman, Montana, the company remains closely tied to enterprise spending on cloud migration, analytics, and artificial intelligence. Despite valuation adjustments in the near term, Snowflake’s role as a core data infrastructure provider positions it to benefit from sustained demand for AI-enabled data solutions over the long run.