Analyst William Power of Robert W. Baird maintained a Buy rating on Snowflake (SNOW – Research Report), retaining the price target of $200.00.
William Power has given his Buy rating due to a combination of factors that highlight Snowflake’s strong position in the data storage and analytics market. The recent ‘Data for Breakfast’ event showcased Snowflake’s focus on AI, particularly through its Cortex product, which is designed to facilitate quick AI deployment. This emphasis on AI, coupled with positive feedback from partners and customers, indicates a promising trajectory for Snowflake’s products.
Moreover, Snowflake’s significant product development in fiscal 2025, with over 400 new capabilities, has resonated well with data engineers and scientists, suggesting increased appeal and potential growth in this sector. The company’s valuation, based on a $200 target price, reflects its large total addressable market and robust platform, despite near-term margin pressures. However, risks such as competition and macroeconomic factors are acknowledged, but the overall outlook remains positive, justifying the Buy rating.
According to TipRanks, Power is a 5-star analyst with an average return of 15.4% and a 54.72% success rate. Power covers the Technology sector, focusing on stocks such as Dynatrace, Snowflake, and Palantir Technologies.
In another report released on February 27, Jefferies also maintained a Buy rating on the stock with a $220.00 price target.
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