
Another analyst, another Snowflake thumbs-up
Wedbush came in hot with a fresh call on Snowflake, nudging its price target up to $280 from $270 and sticking with an Outperform rating. That implies roughly 10% upside from current levels, which is Wall Street’s way of saying: the party may not be over yet.
The AI story is moving up the stack
Dan Ives’ argument is pretty simple: AI isn’t just about the shiny chips anymore. The real money, he says, is shifting into the data layer—the plumbing where companies store, organize, and actually use all that information. In other words, if semiconductors are the engines, Snowflake wants to be the highway system.
And that matters because investors have spent a lot of time worrying that AI would eat legacy software alive. Wedbush is pushing back on that idea, arguing that data platforms with deep enterprise installs are still sticky, still useful, and still hard to rip out once they’re embedded.
Why you should care
For SNOW holders, this is less about one analyst waking up on the right side of the bed and more about the broader narrative shift around AI monetization. If enterprises keep spending on data infrastructure, Snowflake has a shot at being one of the cleaner ways to play the buildout.
Big picture: chips may get the headlines, but the boring data layer is where a lot of the long-term cash flow story could end up hiding.
