Barclays upgrades Snowflake on AI gains, product momentum

Investing.com -- Barclays upgraded Snowflake Inc (NYSE:SNOW ) to "overweight" with a $190 price target given a reaccelerating customer growth and improved product innovation.

The bank highlighted Snowflake’s readiness to capitalize on artificial intelligence trends with mature, AI-focused solutions set to boost growth in fiscal 2026.

"Snowflake's pace of product innovation alleviating competitive fears that in our view has created some skepticism around the long-term competitive story," Barclays (LON:BARC ) analysts said.

The brokerage also noted better execution under the company’s new CEO, who has enhanced sales efficiency and customer focus.

“We think 2025 will be a better year for SNOW,” Barclays said as many of the company’s products will become “generally available" and help growth. Brokerage added that it will further show that the company will be a player in the broader genAI data platform market.

“A potential economic recovery will be first visible for SNOW given its consumption model and could be a further catalyst”

 

Source: Investing.com