Snowflake Inc. (NYSE:SNOW) is highlighted as one of the prominent AI Stocks currently on the market. On October 10, UBS increased its price target for the stock to $310.00 from $285.00, maintaining a Buy rating.
This affirmation came after analysts attended two notable industry events in New York City: a customer event hosted by Snowflake and a conference organized by the emerging competitor ClickHouse.
Several points stood out during the Snowflake event, with the sole drawback being the perception that “Snowflake (including the core DW and Cortex) is considered ‘expensive,’ although this hasn’t significantly impacted demand,” analysts noted.
Another observation indicated that the data management landscape is currently dominated by two main players—Databricks and Snowflake—reflecting a shift from the highly competitive narrative that prevailed in early 2023/2024.
The report further identified artificial intelligence as a key driver of demand for Snowflake, though quantifying its direct revenue implications remains challenging.
Takeaways from the ClickHouse event suggested that while the company offers a “high-performance solution for latency-sensitive workloads, these are only a small fraction of the larger data analytics use cases, indicating that the competitive threat to Snowflake is limited/manageable in our estimation.”
Snowflake Inc. (NYSE:SNOW) operates as a cloud-based platform for data storage, analysis, and sharing.
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