• Wedbush upgrades Snowflake Inc (NYSE:SNOW) to Outperform with a target price set at $210.
• Snowflake’s stock outperformed major indexes, closing with a 1.6% increase, showcasing strong market confidence.
• Although a decline in earnings is anticipated, revenue is forecasted to grow by 22.97%, reaching $952.67 million.

Snowflake Inc (NYSE:SNOW) stands out in the cloud-based data warehousing sector. The company specializes in providing a platform that helps businesses unify their data for easier access and analysis. Competing against major cloud service providers like Amazon Web Services and Microsoft Azure, Snowflake is a powerful player in the industry.

On January 21, 2025, Wedbush upgraded its rating for Snowflake to Outperform, with its current stock priced at $173.53. This upgrade signifies Wedbush’s belief that SNOW will perform better than the market average. The firm has also raised the price target for SNOW to $210, demonstrating confidence in the stock’s upward trajectory.

Recent performance highlights the optimistic perspective shared by Wedbush. The stock closed at $173.53, achieving a 1.6% increase over the previous session. This rise outperformed the gains in the S&P 500 by 0.72%, the Dow Jones Industrial Average by 0.36%, and the Nasdaq Composite by 0.95%. Over the past month, SNOW’s total increase stands at 5.79%, significantly better than the Computer and Technology sector’s mere 0.37% growth and the S&P 500’s 1.17%.

Investors are now keenly awaiting Snowflake’s forthcoming financial results. Analysts project earnings to be around $0.17 per share, marking a notable 51.43% decrease compared to last year. Nonetheless, the forecast indicates a revenue increase of 22.97%, totaling $952.67 million, which underscores the company’s growth potential. Such revenue growth could be pivotal in justifying Wedbush’s favorable rating.

Snowflake’s stock has demonstrated significant volatility, with a yearly high of $237.72 and a low of $107.13. The company’s market cap stands at roughly $57.28 billion, coupled with a trading volume of 5,093,420 shares. This market behavior reflects investor interest and the possibility of substantial future growth, supportive of Wedbush’s renewed rating.