Syeda Seirut Javed
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Snowflake Inc. (NASDAQ:SNOW) is one of the 10 tech stocks on Wall Street’s radar right now. On June 6, Oppenheimer raised Snowflake Inc.’s (NASDAQ:SNOW) price target to $250 from $225, while maintaining an Outperform rating. As the firm revised the company’s price target, it pointed toward Snowflake’s Summit’25, which took place in the first week of June. Its keynote speakers included some well-known faces, including Sridhar Ramaswamy, Sam Altman, and Sarah Guo.
Oppenheimer noted that the event emphasized stronger data lifecycle support, faster product development, and entry into transactional workloads following the Crunchy Data acquisition. Snowflake (NASDAQ:SNOW) announced at the event that it plans to acquire Crunchy Data, a leading open-source Postgres provider, to launch Snowflake Postgres, which is an enterprise-grade PostgreSQL database tailored for AI applications.
A software engineer at work, surrounded by a wall of computer monitors connected to a 'Data Cloud' platform.
Oppenheimer’s data shows that customer feedback revealed rising adoption of Snowflake due to its user-friendly platform. The firm believes the company’s broader product range reflects stronger execution and adaptability, which encourages customers to store more data and develop more applications on its platform.
Snowflake (NASDAQ:SNOW) offers a cloud-based data platform that helps organizations centralize their data to generate insights, develop data applications, share data products, and apply AI to address business challenges.
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.
