Snowflake Inc. (NYSE:SNOW) is one of the 10 Best AI Stocks to Watch in May. On April 28, Snowflake and enterprise software company Appian launched a technology partnership to enhance the latter’s data fabric tool. Under the partnership, Appian serves as the AI orchestration layer while Snowflake’s AI Data Cloud combines data aggregation, model training, and process orchestration to enable immediate business value. This aims to equip agents with deep enterprise context and allows them to interact directly with Snowflake Cortex AI to drive intelligent, data-backed decisions.
Earlier this month, Snowflake announced updates in its Snowflake Intelligence and Cortex Code products, noting that these enhancements enable organizations to connect even more data sources, enterprise systems, and AI models. It added that the enhancements also allow enterprises to align their data, tools, and workflows with AI agents built on Snowflake, which will enable more seamless action on data.
Based on 51 analyst ratings compiled by CNN, Snowflake has a median price target of $230, a 68.54% upside from the current price of $136.47. On April 21, UBS Analyst Karl Keirstead lowered his price target on Snowflake shares to $210 from $235 while maintaining a Buy rating on the stock. The analyst pointed out the year-to-date decline in the company’s shares despite the company projecting a stable revenue growth of 20% to 30%. He attributed the stock’s weakness to investor concerns about the potential disruption of AI models from Anthropic and OpenAI in the data software market over time.
In the fourth quarter of its fiscal year ending January 31, Snowflake registered product revenue of $1.23 billion, a 30% rise from the previous year. This resulted in a 29% growth in full-year product revenues to $4.47 billion.
Snowflake CFO Brian Robins emphasized that the company’s strategy for durable growth is focused on landing new customers and expanding them into strategic, long-term relationships. He added:
“We delivered strong new logo momentum, adding 740 net new customers, up 40% year-over-year, while continuing to deepen engagement across our base. We now have 733 customers spending more than $1 million on a trailing 12-month basis, and a record number exceeding $10 million. As we look ahead, our focus remains on driving stability and operational rigor to support sustained, long-term growth.”
Snowflake Inc. (NYSE:SNOW) provides cloud data warehousing software to enterprise clients. The company’s AI Data Cloud platform allows clients to build, use, and share data, applications, and AI.
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