DA Davidson reiterated a Buy rating and $250 price target on Snowflake Inc. (NYSE:SNOW), calling it one of its top picks in infrastructure software ahead of the company’s fiscal Q2 earnings report on August 27.
The firm said momentum remained strong across Snowflake’s core data warehouse business as well as its Snowpark, data engineering, and AI/ML offerings. Proprietary data sources, including the DaVinci Developer Dataset, showed record developer activity on the platform.
DA Davidson noted that conversations with its industry network supported its bullish stance, reinforcing the view that Snowflake remained “one of the best stories in all of Software.” The firm reiterated confidence in the company’s long-term growth trajectory.
