Jefferies has reiterated its “Buy” rating on Snowflake (SNOW), setting a price target of $300, and noting that the company is deeply mispriced. Analyst Brent Thill highlights Snowflake as one of the clearest beneficiaries of AI in public software, attributed to strong AI adoption tailwinds, the launch of Snowflake Intelligence, and expanding partnerships. These factors are cited as key contributors to Snowflake’s robust market positioning, with its Data Cloud platform playing a critical role in underpinning emerging AI applications. Despite a 27% valuation reset year-to-date perceived as excessive, Jefferies sees significant growth potential for Snowflake, supported by a rising demand for AI-driven workloads and the company’s strategic innovations.
Jefferies reiterates buy rating on Snowflake with $300 price target, citing AI benefits
