Jefferies Raises Snowflake (SNOW) PT to $300, Citing Strong AI-Driven Demand

Snowflake Inc. (NYSE:SNOW) is one of the Hot AI Stocks to Keep on Your RadarOn November 24, Jefferies raised the firm’s price target on the stock to $300 from $270 and kept a “Buy” rating on the shares. The price target raise reflects optimism stemming from the firm’s proprietary survey which indicates robust AI-driven demand for SNOW.

According to the firm, positive indicators for the stock include pipeline strength and partner growth outlooks. The firm has deemed SNOW as its “Top Pick” poised for robust performance in the second half of the year.

“Our proprietary SNOW survey indicates robust demand (pipeline, partner growth outlooks) with AI as the primary driver of incremental growth. We continue to favor SNOW as a Top Pick and believe the company is poised for a strong F2H on positive checks, growing AI adoption, easing comps, and a conservative guide. Buy, PT to $300 (implies 16× CY27 rev).”

Overall, the firm is confident on SNOW supported by robust AI adoption and partner momentum that are reinforcing confidence in its growth trajectory.

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

While we acknowledge the risk and potential of SNOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNOW and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.