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TD Cowen Expects Solid Beat as Snowflake (SNOW) Targets AI Market Share

Snowflake Inc. (NYSE:SNOW) is one of the AI Stocks Analysts Are Tracking Closely. On August 21, TD Cowen analyst J. Derrick Wood reiterated a Buy rating on the stock with a $240.00 price target. The rating affirmation comes ahead of the company’s second-quarter earnings report due on August 27.

The firm has highlighted “positive checks” in its analysis, with core consumption stability and sustained traction with Data Engineering workloads for Snowflake. Moreover, the firm noted that Snowflake’s unified data platform positioning is helping capture more AI-related market share.

“Positive Checks; Unified Data Platform & GTM Shifts Resonating; SNOW reports 2Q on 8/27. Partner checks were bullish, incl. core consumption stability, continued traction w/ Data Eng workloads, emerging momentum w/ Cortex AI, & positive changes from new enterprise sales motions. We think its unified data platform positioning is helping garner more AI-related wallet share. Expect another solid beat & raise alongside growth re-acceleration vs. 1Q.”

A data analyst working at a computer, crunching numbers for the company’s 80% total assets.

Overall, TD Cowen expects a solid upside quarter for the company, with continued execution anticipated to help drive premium valuations.

“Overall, checks point to strong spending conditions for SNOW, w/ strength in core SQL workloads, emerging tailwinds from AI workloads & positive changes in GTM motions. We expect another solid upside qtr (vs. ~4% TTM avg on a $ basis) relative to its 2Q guide of 25% growth, which would represent notable growth acceleration vs. 26% in 1Q. Continued execution should help drive premium valuations (currently at ~46x EV/CY26E FCF) against a Rule of 50+ framework. Reiterate Buy.”

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 Must-Watch AI Stocks for Investors and 10 AI Stocks Analysts Are Tracking Closely

Disclosure: None.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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