TECH - Snowflake's GenAI Initiatives Drive Investor Interest: Analyst Sees Strong Revenue Growth Ahead | Benzinga
Needham analyst Mike Cikos reiterated Snowflake Inc (NYSE:SNOW) with a Buy rating and a $210 price target.
Snowflake has garnered investor attention in the last month based on the company’s GenAI initiatives, Cikos noted.
While the company first unveiled Cortex in November 2023, the recent focus on Snowflake’s GenAI roadmap results from the launch of Arctic in April, the upcoming Analyst Day at Snowflake Summit in San Francisco, and investors determining the direction of the company under new CEO Sridhar Ramaswamy.
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The Arctic is Snowflake’s family of Enterprise-grade models.
Cikos noted that the Arctic (and Cortex, more generally) will play a prominent role.
The analyst published his Arctic Primer to ...