tiprankstipranks
Trending News
More News >

Snowflake Stock (SNOW) Continues to See Buy Ratings Pour In from Top Analysts

Story Highlights

Analysts appear to have a positive view of software stock Snowflake, as they see strong growth potential ahead.

Snowflake Stock (SNOW) Continues to See Buy Ratings Pour In from Top Analysts

Analysts appear to have a positive view of software stock Snowflake (SNOW), as they see strong growth potential ahead. Indeed, five-star Jefferies analyst Brent Thill recently raised his price target on the stock from $220 to $250 and kept a Buy rating. While Snowflake didn’t make any major announcements at its recent user conference, Jefferies noted that the company’s quick innovation is driving excitement. One key example is Snowflake Intelligence, which is an early-stage product that is “generating strong buzz” and could help the company expand its market presence.

Confident Investing Starts Here:

Separately, five-star analyst William Power from Baird also reiterated a Buy rating on Snowflake and pointed to several reasons for his bullish view. To begin with, the company’s new Cortex/AI product is expected to drive future growth, and Snowflake’s focus on improving data access and analytics gives it an edge in today’s data-driven world. At the same time, Snowflake is expanding its distribution network and strengthening its sales strategies. Another growth driver is the Gen2 Warehouses offering, which provides faster computing and better pricing.

In addition, five-star Stifel Nicolaus analyst Brad Reback shared this optimism and maintained a Buy rating after the user conference. Reback noted that customers and partners are increasingly choosing Snowflake over competitors like Databricks for data science, engineering, and machine learning projects. Customers also gave very positive feedback on Snowpark, and many are excited about Openflow, which is a new tool that could remove the need for older middleware ETL platforms. Finally, Snowflake continues to lead in its core SQL business while gaining traction in newer tech.

Is SNOW a Good Buy Right Now?

Overall, analysts have a Strong Buy consensus rating on SNOW stock based on 34 Buys, six Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average SNOW price target of $226.74 per share implies 7.6% upside potential.

See more SNOW analyst ratings

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue