10 AI News Updates You Can’t Miss This Weekend

3. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 71

Snowflake Inc. (NYSE:SNOW) is an artificial intelligence data cloud company.

On November 21, Loop Capital maintained a “Buy” rating on Snowflake Inc. (NYSE:SNOW) and a $185 price target. According to the firm, the company beat on every metric that was tracked. These include product revenue of $900M which was 5% ahead of its Street-high estimate, RPO – (remaining performance obligations) that accelerated 54% y/y, the addition of 18 new Forbes 2K customers, and non-GAAP operating margins of 6.3% which topped Loop’s expectation by 280 bps. The company is poised for growth driven by a robust product cycle, growth due to go-to-market changes, and Generative AI tailwinds.