Wall Street Calls Snowflake a Top AI Infrastructure Pick

1 day ago 3

Joel South

Wed, April 1, 2026 astatine 9:42 AM CDT 3 min read

Benchmark initiated sum of Snowflake (SNOW) with a Buy standing and $190 terms target, positioning the unreality information level arsenic a apical infrastructure prime for the $500B+ AI Data Cloud marketplace amid a 31% year-to-date banal decline.
Snowflake’s beardown Q4 execution—beat-and-raise gross and EPS, 42% year-over-year RPO growth, and 9,100+ accounts adopting AI features—supports a contrarian introduction point, though GAAP operating losses of $318M and ongoing litigation make near-term volatility for semipermanent infrastructure investors.
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Benchmark initiated sum of Snowflake (NYSE:SNOW) with a Buy standing and a $190 terms target, framing the unreality information level arsenic a apical infrastructure prime successful what the steadfast sees arsenic a $500B+ full addressable marketplace for AI Data Cloud. The initiation arrives arsenic Snowflake banal trades adjacent $150.26, good beneath the caller people and down 31% twelvemonth to date.

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Company

Firm

Action

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SNOW	Snowflake	Benchmark	Initiation	Buy	$190

Benchmark's thesis centers connected Snowflake's presumption arsenic a trusted custodian of endeavor data, powering generative AI and frontier LLM applications. The steadfast views the unified AI Data Cloud level arsenic a captious furniture successful endeavor AI infrastructure, targeting Rule of 50+ profitable maturation with accordant beat-and-raise execution. That execution way grounds is real: Snowflake posted Q4 FY2026 EPS of $0.32 versus a $0.27 estimation and gross of $1.284B against a $1.260B estimate.

Snowflake operates a consumption-based unreality information level built astir products including Snowflake Intelligence, Cortex AI, Cortex Code, Snowpark, and Snowflake Marketplace. The level present serves 13,300+ customers globally, including 790 Forbes Global 2000 companies. AI adoption is accelerating: implicit 9,100 accounts are utilizing Snowflake AI features, and Snowflake Intelligence reached astir 2,500 accounts wrong 3 months of launch.

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The Benchmark initiation is simply a contrarian call. Snowflake banal sits 31% beneath its 2025 year-end adjacent of $219.36 and beneath the 200-day moving mean of $215.46, pressured by macro headwinds and ongoing securities people enactment litigation tied to a 2024 disclosure controversy. Remaining show obligations deed $9.77B, up 42% twelvemonth implicit year, signaling durable guardant revenue. Free currency travel borderline expanded to 60% successful Q4 from 42% the anterior year. CEO Sridhar Ramaswamy stated: "Snowflake sits astatine the halfway of the endeavor AI revolution. For implicit a decade, we've built the instauration that makes AI harmless and scalable — a azygous root of truth, cross-cloud interoperability, and enterprise-grade governance."

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