Snowflake price target raised to $200 from $180 at Jefferies

Jefferies raised the firm’s price target on Snowflake (SNOW) to $200 from $180 and keeps a Buy rating on the shares. The company’s new product-led CEO is strengthening its artificial intelligence products, positioning it as a “prime AI beneficiary” as companies build out data and AI foundations in 2025, the analyst tells investors in a research note. The firm believes Snowflake’s business is headed for an inflection point in 2025, with strong backlog growth and increasing AI contribution supporting sales growth and “significant upside” to margins over the next few years. Jefferies increased the price target as part of a 225-page analysis of the top five software AI debates for 2025.