Bank of America includes Snowflake in its Q3 stock ideas, citing strong AI adoption and revenue growth potential.
Bank of America Securities named Snowflake Inc. (SNOW) among its top U.S. stock ideas for the third quarter, driven by accelerating adoption of its AI products and data cloud platform. The firm expects enterprise AI spending to fuel continued revenue growth for the company.
Snowflake currently holds an average price target of $300, reflecting a 17.88% upside from its current price of $254.50. Analyst sentiment remains bullish, with 87% of 52 ratings recommending a Buy and 12% a Hold.
The company’s AI Data Cloud platform enables clients to build, share, and deploy data and AI applications, with recent adoption by automotive retailer Ken Garff Automotive Group highlighting its expanding use cases.