Snowflake (SNOW) Gains Analyst Confidence Despite Rising Competition From Databricks

Snowflake Inc. (NYSE:SNOW) is one of the AI Stocks in Focus on Wall Street. On November 21, Oppenheimer maintained its “Outperform” rating on the stock with a $295.00 price target. The firm is optimistic about the stock, citing encouraging third-quarter checks, resilient AI/ML momentum, and healthy product adoption that signal another strong quarter for the company.

Despite increasing competitive headwinds from Databricks, Snowflake’s checks have been encouraging and signal another strong quarter based on broad based consumption across regions/verticals.

Moreover, while a tough 2QFY26 comparison (+31.8%) may not allow for total revenue YoY growth acceleration, the firm believes that growth could approach 29-30%, potentially beating the consensus estimate of 25.6%.

The firms’ checks have been positive, with Snowflake seeing strong demand for its products and continued momentum for new tools such as Snowpark and Cortex. These factors will enable Snowflake to sustain NRR at 125% and support healthy consumption trends.

“With 3QFY26 Street expectations for product growth (+25.6% YoY) and OM (9.3%) modeled in-line with guidance of +25–26% and 9%, we see beatable targets that keep investors engaged. Reiterate Snowflake as a top pick.”

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.

READ NEXT: 10 AI Stocks in Focus on Wall Street and 10 Hot AI Stocks to Keep on Your Radar

Disclosure: None.