DA Davidson Reiterates Buy on Snowflake (SNOW), Calls It a Selective Software Pick

Snowflake Inc. (NYSE:SNOW) is one of the 10 AI Stocks Making Waves on Wall Street. On January 30, DA Davidson analyst Gil Luria reiterated a Buy rating on the stock with a $300.00 price target. The firm sees SNOW as a selective software buy and one of the few names that could break the doomsday perspective.

Even though the software sector is facing mounting pressure, DA Davidson holds a positive outlook on the stock. It noted that it doesn’t have a desire to “fight the holy war quite yet,” but it does think that some Software is worth buying.

Source: Pixabay

It also noted that the Software complex may continue to face pressures during the rest of the guidance season. However, Luria does want to selectively buy companies that are potentially likely to break the doomsday narrative more easily.

“We will keep it simple and brief, since we are not actually adding material checks or analysis.”

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

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Disclosure: None. This article is originally published at Insider Monkey.