Wedbush Raises Snowflake (SNOW) Price Target to $270, Citing Expanding AI Integration

Snowflake Inc. (NYSE:SNOW) is one of the Trending AI Stocks on Wall Street’s Radar. On October 20, Wedbush raised its price target on the stock to $270.00 from $250.00 while maintaining an “Outperform” rating. The firm is bullish on the stock as AI integration deepens and fuels long-term growth acceleration.

According to the firm, Snowflake holds the potential to accelerate growth by refining its go-to-market strategy by integrating its recent engineering innovations and marketing efforts to scale its core capabilities across its platform.

The firm believes that the company remains “in the early innings of capitalizing on AI demand.” 50% of new customers use its platform for AI use cases, and 25% of organizations use Snowflake’s AI capabilities on a weekly basis.

“Snowflake remains in the early innings of capitalizing on AI demand with strong and innovative capabilities for its customer base to leverage which is leading to stronger deal flow for the company with 50% of new logos leveraging SNOW for AI use cases and 25% of organizations leveraging SNOW’s AI capabilities on a weekly basis. SNOW continues to put an emphasis on retrieval quality for AI within Cortex to let users do more with their data early in the data life cycle to bring together data into one unified view to optimize workflows, and optimize efficiencies. While the company faces significant competition for this multi-trillion-dollar market opportunity, we believe SNOW’s innovation engine remains a key differentiator across the industry with more organizations looking to simplify AI applications across operations to boost efficiencies and productivity through easy-to-use AI products with SNOW continuing to innovate within this key vertical which already stands out amongst competition.”

Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company providing a data analysis, storage, and sharing platform.

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.

READ NEXT: 10 AI Stocks Analysts Are Watching Closely and 10 AI Stocks in the Spotlight This Week

Disclosure: None.