10 Trending AI Stocks on Wall Street’s Radar

6. Snowflake Inc (NYSE:SNOW)

Number of Hedge Fund Holders: 71

Snowflake Inc (NYSE:SNOW) is a cloud-based data platform that offers a data cloud that enables customers to consolidate data to drive meaningful business insights. While the company has underperformed some of its peers amid the artificial intelligence frenzy, Wedbush analyst Dan Ives believes better things are on the way. On January 22nd, the analyst reiterated an Outperform rating on the stock and raised the price target to $210 in response to strong demand for the company’s product portfolio.

According to Ives, Snowflake Inc’s (NYSE:SNOW) product portfolio should continue seeing strong demand following the integrations of artificial intelligence and machine learning capabilities. The integration is part of the company’s bid to meet growing enterprise needs.

“SNOW is well-positioned to stabilize margins in the near-term as the company invests to capture the massive growth opportunity taking place in the market while its prudent cost approach assists with bottom-line expansion,” Ives wrote.