Snowflake vs. Databricks: Analyst Says Snowflake's Expansion Makes It A Fierce Competitor
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Mike Cikos reiterated a Buy rating on Snowflake Inc (NYSE:SNOW) with a price target of $216. The analyst believes Snowflake's expansion and its Cloud-Native Data Platform are disrupting the market and making it a strong competitor against Databricks. The company is expected to see FY24 revenues rise 32.5% Y/Y to $2.737 billion and FY25 revenues of $3.415 billion, up 24.7% Y/Y.
September 05, 2023 | 5:59 pm
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Snowflake's expansion and its Cloud-Native Data Platform are expected to disrupt the market and increase its competitiveness. The company's FY24 and FY25 revenues are expected to rise significantly.
The analyst's positive outlook on Snowflake, including a Buy rating and an expected increase in revenues, indicates a positive short-term impact on the company's stock. The company's expansion and disruption of the market further increase its competitiveness, which could also positively impact its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100