Snowflake (SNOW) remains well-positioned to benefit from the elevated demand of artificial intelligence use cases as more and more businesses move their operations to the cloud over the next 12 to 18 months, Wedbush said Tuesday.
The cloud-based data storage company "represents a strong 2nd derivative player in the AI revolution," the brokerage said in its keynote recap for Snowflake's Summit 2025 in San Francisco.
Wedbush said several industry executives who attended the conference highlighted that they use Snowflake product portfolio, including data storage, Cortex and analytical tools, among others, in the generative AI segment.
The brokerage also noted many federal agencies are using the company's data products after it reached the Department of Defense impact level 5 authorization.
"We believe that there is ample room to grow across industries as SNOW looks to fine-tune a successful go-to-market motion that brings together recent engineering, innovations, and marketing for further scaling its core capabilities that provide simple implementation capabilities across its platform," Wedbush said.
Wedbush maintains an outperform rating and a $230 price target on the stock.
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