Goldman Sachs Reduces PT on Snowflake Inc. (SNOW) Stock

Snowflake Inc. (NYSE:SNOW) is among the 14 Best Cloud Computing Stocks to Buy Right Now.

On February 11, Goldman Sachs reduced its price objective on the company’s stock to $246 from $286, while keeping a “Buy” rating. As per the analyst, the firm is anticipating strong fundamentals to showcase resilience compared to the software sector.

Elsewhere, on February 6, BofA reduced its price objective on the company’s stock to $275 from $310, while keeping a “Buy” rating, as reported by The Fly. Notably, the firm highlighted the company as a top pick in the broader infrastructure software space. That being said, it changed the valuation methodology and revised forecasts amidst changed opinions on growth, peer multiple compression, and risks.

In a separate release, on February 2, Snowflake Inc. (NYSE:SNOW) and OpenAI signed a $200 million partnership agreement. The agreement focuses on providing advanced AI model capabilities to enterprise customers with the help of co-innovation and joint go-to-market efforts. Notably, OpenAI models such as GPT-5.2 would be accessible in Snowflake Intelligence.

Snowflake Inc. (NYSE:SNOW) offers a cloud-based data platform for several organizations.

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.