Jump to content
  • Sign Up
×
×
  • Create New...
New feature: 1 Vote = 0.10€ for server Owner!

Buy this ‘AI ready’ cloud stock with more than 25% upside, UBS says

Pelican Press

By Pelican Press,
in World News

 Share

Recommended Posts

  • Diamond Member
Pelican Press Warlord

Pelican Press 0

Posted
  • Diamond Member
Posted

This is the hidden content, please

Buy this ‘AI ready’ cloud stock with more than 25% upside, UBS says

UBS singled out Snowflake as a potential beneficiary of the artificial intelligence trend. The bank updated the cloud-based data storage to buy from neutral. Analyst Karl Keirstead also raised his 12-month price target to $265 from $210, signaling upside of 27% from Tuesday’s close. Despite shares of Snowflake rallying 35% this year, Keirstead said that “it’s not too late to get more constructive.” SNOW YTD mountain SNOW YTD chart “We’re becoming increasingly confident in the prospect that we’re just a few quarters into what could prove to be a multi-year enterprise investment cycle in the data layer, based on industry checks … as well as the results from Snowflake, Palantir and Databricks,” Keirstead wrote. This optimism is rooted in Snowflake’s customers and partners signaling spending in their data stacks has increased. In many cases, this upticks has been due to greater value associated with corporate data to drive the performance of AI applications, the analyst said. “As Snowflake argues, and we agree, enterprises increasingly need ‘AI ready’ data such that Snowflake, Palantir and Databricks have emerged as AI beneficiaries,” he added. “This is also evident in the efforts of SaaS firms Salesforce, ServiceNow, SAP and others to move into the data software space.” Meanwhile, Snowflake’s competition with Databricks looks more manageable that previously indicated, with the overall market growing quickly enough that there seems to be room for both players. Another plus is Snowflake’s success so far in broadening out its data management portfolio, which has positioned itself to grab more data wallets share.



This is the hidden content, please

#Buy #ready #cloud #stock #upside #UBS

This is the hidden content, please

This is the hidden content, please

0

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Unfortunately, your content contains terms that we do not allow. Please edit your content to remove the highlighted words below.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing

  • Vote for the server

    To vote for this server you must login.

    Jim Carrey Flirting GIF

  • Recently Browsing   0 members

    • No registered users viewing this page.

Important Information

Privacy Notice: We utilize cookies to optimize your browsing experience and analyze website traffic. By consenting, you acknowledge and agree to our Cookie Policy, ensuring your privacy preferences are respected.

  I accept