Snowflake (SNOW) Reaffirmed Buy on Data Tools Momentum

Snowflake Inc. (NYSE:SNOW) ranks among the 20 best fast growth stocks to invest in. Stifel kept its buy rating and $220 price target on Snowflake Inc. (NYSE:SNOW) following meetings with the company’s investor relations team. Snowflake’s momentum with current data engineering and science tools, such as Snowpark and Dynamic Tables, was the primary subject of the meetings.

Additionally, the company talked about its approach to more recent offerings, such as Openflow and Crunchy Data. Management stated that they do not anticipate any significant revenue contribution from these offerings in their current outlook, which Stifel described as “duly conservative.”

According to Stifel, the discussions strengthened their opinion that stabilization within Snowflake’s core SQL business should be substantially complemented by current data engineering services. With new products and closer ties with Azure, the firm sees more opportunities for growth.

Snowflake Inc. (NYSE:SNOW) is an American cloud-based data storage company that operates a platform built on Amazon Web Services, Microsoft Azure, and Google Cloud. It also provides Snowflake Cortex with a set of AI capabilities that employ large language models to analyze unstructured data.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.