Snowflake (SNOW) Stock: What UBS Learned From Customers and Partners

Snowflake Inc. (NYSE:SNOW) is one of the Must-Watch AI Stocks on Wall Street. On August 13, UBS analyst Karl Keirstead lowered the price target on the stock to $250.00 (from $265.00) while maintaining a Buy rating.

The rating affirmation comes ahead of UBS analyst Karl Keirstead who consulted with nine partners and customers to assess Snowflake’s recent demand trends and second-half outlook.

“Ahead of Snowflake’s 2Q/Jul print on Wed Aug 27th, we caught up with 9 partners and customers to assess how demand tracked over the last few months and get a pulse check on the likely 2H outlook. Bottom line, most customers are still prioritizing investments in their data foundations and in data analytics, a rising tide that is boosting Snowflake as well as Databricks, Palantir, the hyperscalers and even Salesforce’s Data Cloud. We maintain our view that the 12x/46x CY26E revs/FCF multiples don’t seem unreasonable if Snowflake’s growth is trending towards 30%, the data investment cycle has duration and margins are biased up.”

Snowflake (SNOW) Stock: What UBS Learned From Customers and Partners

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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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