Snowflake Inc
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Snowflake Inc (SNOW) Stock News
The latest SNOW headlines and market coverage — 1 recent story, updated throughout the day.
- Benzinga·
Is SNOW Stock A Buy? Dan Ives Sees 10% Upside In Snowflake's Price Following AI Strategy Win
Wedbush Securities has raised its price target on Snowflake Inc. (NYSE: SNOW ) to $280 from $270, maintaining an outperform rating on the data cloud enterprise . The adjustment signals roughly 10% upside from its current level as enterprise software shifts into a critical phase of artificial intelligence (AI) monetization. The Shift To Software Monetization Speaking to CNBC, Dan Ives , global head of tech research at Wedbush, said the broader AI market has moved beyond semiconductor hardware into the crucial infrastructure layer. Following robust cloud utilization data, Ives emphasizes that data integration is proving to be the primary engine for software enterprise growth. "What it's showing you is the data layer is now the monetization. It's not just chips. It's gone to the data layer," Ives stated. This transformation cements Snowflake 's underlying infrastructure as an essential enterprise resource. Ives directly countered ongoing market skepticism regarding software obsolescence, describing data warehousing and cloud repository systems as the ultimate proprietary asset. “That data layer like that is the new oil, the new gold, that’s the moat,” he noted. data-variant="card" data-news-mode="manual" > Read Also: Snowflake Surges 35% After AI-Fueled Blowout ... Full story available on Benzinga.com