Snowflake resumed with an Outperform at William Blair

William Blair analyst Jason Ader resumed coverage of Snowflake with an Outperform rating and no price target. Snowflake is a leader in the large analytical database market, benefiting from strong secular trends around data growth, shift to cloud, and app proliferation, the analyst tells investors in a research note. Industry checks support the view that Snowflake is the easiest to use data warehousing platform, says the firm. It believes Snowflake is “poised to see strong tailwinds” from generative artificial intelligence adoption given its control of high-value enterprise data. Blair sees a favorable risk/reward equation for the stock.