Movement Alert｜Snowflake Rises 3.56% in Regular Trading, Databricks Valuation Surge Drives AI Data Platform Sector Revaluation

Market Focus07-29

On July 29, Snowflake rose 3.56% in regular trading, trading at 286.18 USD/share, with turnover of $231 million. The rally was driven by a broad revaluation of the AI data platform sector following competitor Databricks' completion of a $3 billion funding round at a valuation of $188 billion.

Multiple investment banks have recently raised their price targets on Snowflake: UBS lifted its target to $370, RBC Capital Markets raised to $313 while maintaining an Outperform rating, Deutsche Bank upgraded to $300, and Jefferies maintained a Buy rating with a $310 target, noting that the Databricks valuation surge implies approximately 14% further upside for Snowflake. The analyst consensus target price stands at approximately $299.73, suggesting continued upside from current levels.

Separately, Snowflake recently launched Cortex AI Gateway, built on technology acquired through its May purchase of Natoma, designed to help enterprises securely scale their AI agent ecosystems through unified monitoring and cost management capabilities.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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