© Reuters. Snowflake (SNOW) can enhance TAM dimension primarily based on new use-cases from Generative AI – Needham & Firm
Needham & Firm analysts raised the agency’s value goal on Snowflake (NYSE:) to $218 from $180, sustaining a Purchase score in a notice.
SNOW shares began Wednesday’s session positively, climbing to a excessive of $183.60. Nevertheless, it has since retraced to round $179.25, up 0.09% on the day.
Previewing Snowflake’s Summit user-event subsequent week, analysts mentioned there’s “potential for the corporate to extend the dimensions of its TAM from $248 Billion in CY26 – primarily based on platform positioning and the unlock of recent use-cases from Generative AI.”
“We count on Snowflake to spotlight the Knowledge Cloud’s governance and safety capabilities, in addition to the corporate’s message of ‘bringing work to the info,'” they mentioned.
Analysts added that additionally they “count on a reiteration of $10 Billion in Product Income with an improved margin profile – in line with CFO Mike Scarpelli’s latest feedback,” whereas they consider the corporate’s governance and safety capabilities will function prominently within the generative AI roadmap.
