By Nate Wolf
Mizuho analyst Gregg Moskowitz boosted his price target for Snowflake on Thursday, calling the data storage company one of his "favorite April-ending stocks to own" ahead of its first-quarter earnings report on May 21.
Several other software vendors will report financial results for the quarter through April this month. Moskowitz also recommends owning Okta and Salesforce, which report their earnings on May 27 and May 28, respectively.
Moskowitz maintained an Outperform rating for Snowflake, and raised his target for the stock price to $205 from $190, citing strong indicators from the broader software industry.
Snowflake stock was trading at $179.30 when markets closed Wednesday. Shares are up 18% so far in 2025, buoyed by a better-than-expected earnings report in February for the company's fiscal fourth quarter.
Moskowitz believes the stock has further room to rise.
Software companies largely have weathered tariff-related news well over the past month, Moskowitz wrote, adding that "AI uptake, including Agentic AI, continues to pick up momentum."
Snowflake announced an expanded partnership with Microsoft in February to integrate OpenAI's models directly into the Snowflake Cortex AI service. Meanwhile, Microsoft enterprise users will be able to employ Cortex "data agents" in Microsoft 365 Copilot and Microsoft Teams.
Write to Nate Wolf at nate.wolf@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 15, 2025 09:29 ET (13:29 GMT)
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