9 Important AI News and Ratings on Investors’ Radar

6. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 71

Snowflake Inc. (NYSE:SNOW) is a prominent cloud-based data platform provider that leverages AI to improve its offerings. The company applies AI for optimizing data management, delivering advanced insights, enhancing data security, automating data engineering, and advancing data science capabilities.

Loop Capital increased its price target for Snowflake from $185 to $205, reaffirming its Buy rating. The firm noted that discussions with management, field teams, and potential customers indicate stable business fundamentals, suggesting software companies are likely to report December results that meet or slightly exceed expectations. Snowflake, in particular, is seen as having significant growth potential due to key factors like a robust product cycle driving increased workloads, recent go-to-market changes aimed at boosting usage and growth, and opportunities tied to Generative AI.