UBS Reiterates Neutral Rating on Snowflake Inc. (SNOW)

UBS analyst Karl Keirstead reiterated a Neutral rating and $171.00 price target on Snowflake Inc. (NYSE: SNOW).

The analyst comments "We attended the SF-based customer conference and Investor Day for privately-held Databricks, a key rival to Snowflake, and offer our raw feedback from partner/customer checks in the note. Bottom line, the overlap between Databricks and Snowflake is absolutely increasing (Databricks reported that 15%+ of its $2.4b 2Q/Jul annualized revs is now coming from its rival data warehouse service) and the investor debate has shifted to how well Snowflake can respond to the competitive threats from Databricks and the hyperscalers in 2025+. At 10x CY25 revs, we remain Neutral-rated on Snowflake."

For an analyst ratings summary and ratings history on Snowflake Inc. click here. For more ratings news on Snowflake Inc. click here.

Shares of Snowflake Inc. closed at $130.33 yesterday.

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