Snowflake Is 'Out Of The Storm With AI Tailwinds,' This Bullish Analyst Says
Portfolio Pulse from Priya Nigam
Snowflake Inc (NYSE:SNOW) is transitioning from a data warehouse to a data cloud provider and has launched machine learning products to capture additional workloads. DA Davidson analyst Gil Luria initiated coverage of Snowflake with a Buy rating and a price target of $200, citing the company's industry-leading growth rates and potential to benefit from rising demand for artificial intelligence.
September 08, 2023 | 2:11 pm
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POSITIVE IMPACT
Snowflake's transition to a data cloud provider and its potential to benefit from rising AI demand has led to a Buy rating from DA Davidson. This could positively impact the company's stock price.
The positive analyst rating from DA Davidson, coupled with Snowflake's strategic transition and potential to benefit from rising AI demand, could lead to increased investor interest and a potential rise in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100