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4. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 71

Snowflake Inc. (NYSE:SNOW) is an AI-driven data cloud company that enables customers to create generative AI applications and build large language models.

On Tuesday, November 19, Mark Murphy from J.P. Morgan assigned a “Buy” rating on Snowflake Inc. (NYSE:SNOW) with a price target of $175.00. Murphy’s buy rating on Snowflake is based on the company’s strategic advancements in the AI sector and strong market position. Snowflake’s strong structured data capabilities have enabled it to capitalize on AI-driven opportunities. Some areas, such as unstructured data, are dominated by competitors such as Databricks, but the company’s ongoing development indicates a promising future. Moreover, the strong demand for large language models has enabled Snowflake’s AI tools such as Cortex AI to gain traction. Its potential is also noticed through expanding partnerships with tech partners. Overall, strength in AI demand, as well as innovation and market adaptability, have led to a positive outlook and rating.