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Snowflake’s AI Pivot Wins Analysts Over | Raleigh News
Snowflake’s stock took a hit earlier this year as investors feared AI would kill its subscription model, but Wells Fargo just flipped the script—boosting its price target to $500, the highest on Wall Street. The bank now sees AI as a tailwind, not a threat, as businesses ramp up data uploads to fuel AI models—directly boosting Snowflake’s revenue. Unlike rivals, Snowflake avoids massive capex and model lock-in, positioning itself as the AI data backbone. The stock is already climbing, with nearly 85% upside potential, but risks remain: competition’s heating up and its valuation is sky-high…
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