Here's Why Snowflake Stock Popped Again Today
Last week, data company Snowflake (NYSE: SNOW) reported financial results for its fiscal third quarter of 2025. The market responded favorably to the report as evidenced by a big jump in Snowflake's stock price. Today, the price is rising yet again, with Snowflake stock up 4% as of 10 a.m. ET. But it had been up more than this earlier in the day.
This morning, Wedbush analyst Dan Ives published a report stating that artificial intelligence (AI) is starting to revolutionize the software space and noted that Snowflake is a big beneficiary, according to The Fly. This motivated him to recommend buying Snowflake stock and to give it a price target of $190 per share, which still represents about 9% upside from today's price.
Drawing a connection between Snowflake and the potential of AI isn't new. In fact, the company used to call itself merely "the Data Cloud company." But at the start of its fiscal 2025 in February, it reworked its description to "the AI Data Cloud company."
Source Fool.com
