Piper Sandler Maintains Overweight on Snowflake, Lowers Price Target to $240
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 29 2024
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Should l Buy SNOW?
Source: Benzinga
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Analyst Views on SNOW
Wall Street analysts forecast SNOW stock price to rise
33 Analyst Rating
30 Buy
3 Hold
0 Sell
Strong Buy
Current: 149.240
Low
237.00
Averages
278.19
High
312.00
Current: 149.240
Low
237.00
Averages
278.19
High
312.00
About SNOW
Snowflake Inc. is a data cloud and artificial intelligence company. Its platform is the technology that powers the AI Data Cloud, enabling customers to consolidate data into a single source of truth to drive meaningful insights, apply artificial intelligence (AI) to solve business problems, build data applications, and share data and data products. It provides its platform through a customer-centric, and consumption-based business model. Its cloud-native architecture consists of three independently scalable but logically integrated layers across compute, storage, and cloud services. The compute layer provides dedicated resources to enable users to simultaneously access common data sets for many use cases with minimal latency. The storage layer ingests massive amounts and varieties of structured, semi-structured, and unstructured data to create a unified data record. Its ClearQuery platform allows users to rapidly search, explore, and analyze their data using natural language queries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Video Release: The related video was published on April 8, 2026, further sparking discussions and analyses regarding these two stocks.
- Market Dynamics: The current market environment is prompting investors to reassess the investment value of growth stocks, which may influence future investment decisions and capital flows.
See More
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- Market Focus: Investors are intrigued by the potential of AI technology, particularly discussions about which company might become the world's first trillionaire, indicating strong market interest in tech stocks.
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- AGI Status: Databricks co-founder and CTO Matei Zaharia stated that artificial general intelligence (AGI) is already present, albeit not in a form that humans can appreciate, highlighting the need to rethink our understanding of AI models beyond human standards.
- Industry Outlook: SoftBank CEO Masayoshi Son predicts that AGI will surpass the collective intelligence of humanity within the next decade, indicating a strong anticipation and focus on AGI development within the tech industry, which could trigger a technological revolution.
- Financial Performance: Databricks reported a revenue run rate exceeding $4.8 billion in its fiscal third quarter, reflecting a year-over-year growth rate of over 55%, which underscores the company's robust growth momentum in the data warehousing and analytics market, further solidifying its market position.
- Financing Dynamics: In December, Databricks raised over $4 billion in its Series L funding round, valuing the company at $134 billion, while also adding nearly $1.8 billion in new debt financing, demonstrating its proactive strategy in expanding business and market share.
See More
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- Price Range Analysis: VXF ETF's 52-week low is $148.21 per share, with a high of $223.6399, and a recent trade at $215.64, indicating stability near its high, which may attract investor interest in its price movements.
- Technical Analysis Tool: Comparing the latest share price to the 200-day moving average can provide valuable insights for investors, helping to assess market trends and potential buying opportunities.
- ETF Trading Mechanism: Exchange-traded funds (ETFs) trade like stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting the ETF's liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify ETFs experiencing notable inflows (new units created) or outflows (old units destroyed), assessing their impact on underlying assets and market sentiment.
See More
Reminder of Class Action Lawsuit Against Snowflake Inc.
- Class Action Notice: Rosen Law Firm reminds investors who purchased Snowflake Inc. (NYSE: SNOW) Class A common stock between June 27, 2023, and February 28, 2024, to apply as lead plaintiffs by April 27, 2026, to participate in the class action and seek compensation.
- Lawsuit Background: The lawsuit alleges that Snowflake made positive statements during the class period while failing to disclose that product efficiency gains and pricing strategies negatively impacted consumption and revenues, resulting in investor losses when the truth emerged.
- Law Firm Credentials: Rosen Law Firm specializes in securities class actions and has achieved the largest securities class action settlement against a Chinese company, ranked No. 1 by ISS Securities Class Action Services in 2017, demonstrating its expertise and success in this field.
- Investor Action Advice: Investors can visit the Rosen Law Firm website or call the toll-free number for more information, emphasizing the importance of selecting qualified legal counsel to protect their rights and avoid inexperienced intermediaries.
See More
Datadog and Snowflake Growth Accelerating Amid AI Spending
- Accelerated Revenue Growth: Datadog's total revenue grew 29.2% year-over-year, up from 28.4% last quarter, indicating a broad-based acceleration in usage across customer cohorts, reflecting strong business performance amid ongoing AI-related spending.
- Strong Product Revenue: Snowflake's product revenue increased by 30.0% year-over-year, surpassing last quarter's 28.7%, primarily driven by robust core business performance and the impact of AI tools like Intelligence and Cortex AI, showcasing the company's competitive edge in the market.
- Shift in Investor Preferences: As AI has yet to drive significant growth for most software vendors, investors are favoring stocks with accelerating core business growth; Datadog stood out in Q4 2025, with core revenue growth accelerating to 23%, a 3-point increase from 20% in Q3 2025, indicating strong market confidence in its future.
- Positive Impact of AI Tools: Snowflake's commentary on its AI products is bullish, with Intelligence usage doubling quarter-over-quarter across 2,500 accounts, and strong performance from Cortex AI and Cortex Code further enhancing market expectations for future growth.
See More
