Snowflake (SNOW) Sees Minor Optimism Bump From Analysts

We recently published 10 Best Strong Buy AI Stocks to Invest In.  Snowflake Inc. (NYSE:SNOW) is one of the best consumer cyclical stocks.

Snowflake Inc. (NYSE:SNOW) is a data warehousing firm that plays a key role in the AI ecosystem. Its AI Data Cloud and Cortex AI enable customers to build and scale AI applications by relying on LLMs and other AI technologies, while its machine learning platform works with the machine learning AI subsegment.

On November 25th, CNBC’s Scott Wapner reported that Loop Capital had increased Snowflake Inc. (NYSE:SNOW)’s share price target to $280 from $270. The firm cited improving channel checks as the reason behind its upgrade. In response, Stephanie Link, Hightower Advisors’ chief investment strategist, Stephanie Lick, commented that the firm had preannounced its quarter on October 27th and “whispers” suggested that Snowflake Inc. (NYSE:SNOW) might deliver 11% in operating margins and added that a lot of good news appeared to be priced in.

Looking at the hedge fund filings for the third quarter, 102 funds part of Insider Monkey’s database had disclosed holding Snowflake Inc. (NYSE:SNOW) in their 13F filings. A notable 100% jump came from Ken Griffin’s Citadel Investment Group.

Snowflake Inc. (NYSE:SNOW)’s CEO Sridhar Ramaswamy explained the firm’s business model and its Cortex AI platform in an interview with Bloomberg on November 5th. He outlined that Snowflake Inc. (NYSE:SNOW) is “the data layer that sits above cloud services providers, the AWS, Azure, and GCP. We are very much a data centric platform. We are about making it really easy to ingest clean and be able to run analytics on top of the data.” Ramaswamy added that Snowflake Inc. (NYSE:SNOW)’s Snowflake Intelligence AI platform allows users to bring the power of the data directly to the end user.

While we acknowledge the potential of SNOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, 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.