Databricks’ $188B valuation may boost Snowflake’s share price
Snowflake’s shares could see a higher valuation after Databricks raised funding at a $188B valuation.
The funding round may have a positive read-through for Snowflake, with Jefferies suggesting a higher stock target.
Databricks trades at an implied ~17x FY28 revenue, while Snowflake trades at ~13x FY28 revenue, indicating potential for Snowflake’s multiple to increase.