Snowflake Inc. (NYSE:SNOW) is likely one of the AI Shares Analysts Are Monitoring Intently. On August 21, TD Cowen analyst J. Derrick Wooden reiterated a Purchase ranking on the inventory with a $240.00 worth goal. The ranking affirmation comes forward of the corporate’s second-quarter earnings report due on August 27.
The agency has highlighted “optimistic checks” in its evaluation, with core consumption stability and sustained traction with Information Engineering workloads for Snowflake. Furthermore, the agency famous that Snowflake’s unified information platform positioning helps seize extra AI-related market share.
“Constructive Checks; Unified Information Platform & GTM Shifts Resonating; SNOW stories 2Q on 8/27. Associate checks have been bullish, incl. core consumption stability, continued traction w/ Information Eng workloads, rising momentum w/ Cortex AI, & optimistic modifications from new enterprise gross sales motions. We expect its unified information platform positioning helps garner extra AI-related pockets share. Count on one other strong beat & increase alongside progress re-acceleration vs. 1Q.”
An information analyst working at a pc, crunching numbers for the corporate’s 80% whole property.
General, TD Cowen expects a strong upside quarter for the corporate, with continued execution anticipated to assist drive premium valuations.
“General, checks level to sturdy spending situations for SNOW, w/ power in core SQL workloads, rising tailwinds from AI workloads & optimistic modifications in GTM motions. We anticipate one other strong upside qtr (vs. ~4% TTM avg on a $ foundation) relative to its 2Q information of 25% progress, which might signify notable progress acceleration vs. 26% in 1Q. Continued execution ought to assist drive premium valuations (at present at ~46x EV/CY26E FCF) towards a Rule of fifty+ framework. Reiterate Purchase.”
Snowflake Inc. (NYSE:SNOW) is a cloud-based information storage firm offering an information evaluation, storage, and sharing platform.
Whereas we acknowledge the potential of SNOW as an funding, we consider sure AI shares supply better upside potential and carry much less draw back threat. If you happen to’re in search of an especially undervalued AI inventory that additionally stands to profit considerably from Trump-era tariffs and the onshoring pattern, see our free report on the greatest short-term AI inventory.
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Disclosure: None.