Piper Sandler Boosts Snowflake (SNOW) Price Target Following 31.5% Product Growth

Snowflake Inc. (NYSE:SNOW) ranks among the best predictive analytics stocks to buy right now. On August 28, Piper Sandler maintained its Overweight rating on Snowflake Inc. (NYSE:SNOW) and raised its price target from $215 to $285. The firm reported faster product growth, up 31.5% year-over-year from 26.2% in the prior period, with Snowflake now reaching a $4 billion-plus run rate.

Piper Sandler reported that Snowflake Inc. (NYSE:SNOW) CEO Sridhar Ramaswamy has implemented a “founder mode always-on approach” that has improved accountability and accelerated transformation across marketing, operations, and research and development divisions.

Snowflake’s 22% year-to-date increase in sales and marketing workforce indicates even greater growth goals for the company.

Snowflake Inc. (NYSE:SNOW) is an American cloud-based data storage company that provides a platform for data analysis and simultaneous access to large datasets with low latency. The platform is based on AWS, Microsoft Azure, and Google Cloud Platform. Snowflake Inc.’s (NYSE:SNOW) predictive analytics features uncover patterns in data from diagnostic and descriptive analytics, enabling predictive data modeling of future trends.

While we acknowledge the potential of SNOW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.