Cantor Reaffirms Buy on Snowflake (SNOW), Cites Strong Summit and Growth Outlook

Snowflake Inc. (NYSE:SNOW) ranks among the best magic formula stocks to invest in. Cantor Fitzgerald reaffirmed its Overweight rating and $242 price target for Snowflake Inc. (NYSE:SNOW) on June 9. Cantor’s Thomas Blakey emphasized the company’s solid positioning after the Snowflake Summit 2025 in San Francisco.

Cantor Reaffirms Buy on Snowflake (SNOW), Cites Strong Summit and Growth Outlook

At the event, Snowflake Inc. (NYSE:SNOW) demonstrated its significance in enterprise data stacks. Although the effects of AI now appear to be minor, discussions have raised the possibility of short-term adjustments. One strategic step to expand Snowflake’s product line is the acquisition of Crunchy Data, a PostgreSQL-focused business.

Snowflake’s go-to-market approach, which now seems more targeted, also impressed analysts. The company’s shares seem to be valued at a premium due to its ongoing pace in growing its core cloud data warehouse and its potential in additional product areas, which are still in their infancy.

Snowflake Inc. (NYSE:SNOW) is an American cloud-based data storage company that operates a platform built on Amazon Web Services, Microsoft Azure, and Google Cloud. It also provides Snowflake Cortex with a set of AI capabilities that employ large language models to analyze unstructured data.

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 this cheapest AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.