Loop Capital Raises Snowflake (SNOW) Price Target, Maintains Buy Rating

On Wednesday, June 4, Loop Capital analysts raised the price target for Snowflake Inc. (NYSE:SNOW) from $230 to $245 and kept a “Buy” rating.

This change came after insights from Snowflake Inc.’s (NYSE:SNOW) “well-attended” customer conference and investor session.

Loop Capital Raises Snowflake (SNOW) Price Target, Maintains Buy Rating

A software engineer at work, surrounded by a wall of computer monitors connected to a ‘Data Cloud’ platform.

At the event, analysts noted that the sentiment was noticeably more upbeat among attendees compared to the previous year. They also found no signs that customers or partners were slowing down their spending.

Snowflake Inc. (NYSE:SNOW) is focused on innovation and this was evident in the introduction of new features and improvements. These are mainly related to performance, data governance, and interoperability. The company’s new go-to-market strategy and compensation model are leading to an increase in consumption and new customer growth.

Loop Capital analysts noted that customers are increasingly seeing Snowflake Inc. (NYSE:SNOW) as a reliable Enterprise AI data platform, not merely a cloud data warehouse.

Snowflake Inc. (NYSE:SNOW) is an American cloud-based data storage company that is best known for its AI Data Cloud platform, which allows thousands of organizations to build, use, and share data, applications, and AI.

While we acknowledge the potential of SNOW as an investment, 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None.