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Snowflake Analysts Remain Overweight: Potential Growth Despite Iceberg Adoption Concerns

Benzinga ·  May 17 01:47

Piper Sandleranalyst Brent A. Bracelin attended Virtual Iceberg Summit 2024 sessions over the last two days with data architects and engineers fromApple Inc(NASDAQ:AAPL), ByteDance,CrowdStrike Holdings, Inc(NASDAQ:CRWD),EBay Inc(NASDAQ:EBAY),Alphabet Inc(NASDAQ:GOOGL) Google,International Business Machines Corp(NYSE:IBM),Microsoft Corp(NASDAQ:MSFT) LinkedIn,Netflix Inc(NASDAQ:NFLX),Pinterest Inc(NYSE:PINS), Tencent, andUber Technologies, Inc(NYSE:UBER).

Bracelin reiterated an Overweight rating onSnowflake Inc(NYSE:SNOW) with a price target of $240.

From his standpoint, the industry takeaways were that Iceberg adoption is still nascent, less than 200 attendees per session...

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