13-06-2025
Citi Reiterates Buy on Snowflake (SNOW) as Cortex AI Gains Traction
Snowflake Inc. (NYSE:) is one of the One of the biggest analyst calls on Wednesday, June 11, was for Snowflake. Citi reiterated the stock as 'Buy' with an associated price target of $245.00. The firm said it is sticking with the stock following an investor day.
Snowflake is experiencing strong momentum owing to its new products, particularly Cortex AI. Cortex AI is a suite of AI features using large language models (LLMs) to offer intelligent assistance to customers. Customers are particularly excited about the accelerated product development under CEO Sridhar Ramaswamy and the readiness of enterprises to deploy generative artificial intelligence applications.
Customers have also resonated well with the company's strategy to avoid vendor lock-in, thereby resulting in widespread adoption of the Cortex AI for tasks such as fraud detection and process automation. This has, in turn, led to reduced operational overheads.
The firm also talked about the adoption of Apache Iceberg and the Polaris Catalog across various industries, reflecting on the increasing demand for vendor-neutral data management solutions. Crunchy Data's recent acquisition further strengthens Snowflake's position by enhancing support for Postgres. This, in turn, aligns with its strategy to provide open operational and analytical workloads for AI.
'In general, customer enthusiasm was high around Snowflake's new products.'
Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company providing a data analysis, storage, and sharing platform.
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.
READ NEXT: and
Disclosure: None.
