Snowflake Co., Ltd. (NYSE:snow) is one of them. 10 AI stocks that are soaring. On June 9, Wells Fargo analyst Ryan McWilliams raised his price target on Snowflake (NYSE:SNOW) from $300 to $320 and gave the stock a “buy” rating. The upward price target revision reflects a 28% upside from current levels. In addition to Wells Fargo, two other analysts also reaffirmed their Buy ratings on the stock in the first week of June. This includes Stifel Nicolaus and Bank of America Securities.
At Snowflake Summit 26 on June 2, the company highlighted the benefits of its partnership with Anthropic, announced in December 2025. He noted that this partnership has increased Claude’s corporate adoption through Snowflake Cortex AI. Christian Kleinerman, vice president of products at Snowflake, believes the increased adoption of Claude by enterprises reflects the growing demand for AI tools. As a result, the company is seeing strong customer interest across its AI products, with Snowflake Cortex Code being the fastest growing product in Snowflake’s history.
With AI tailwinds, Snowflake’s Cortex code has over 7,100 users. In addition, leading companies such as Basis, Block, Caravana, eSentire, Indeed, and Notion have adopted the company’s AI solutions.
Steve Corfield, Head of Global Business Development and Partnerships at Anthropic, said:
“Snowflake brings the managed data environment that enterprises already rely on, and Claude brings the theory for leveraging that data. Together, we’re making it easy for organizations to use trusted AI on their most important business data.”
Snowflake Inc. (NYSE:SNOW) provides a cloud-based data platform that enables organizations to store, manage, and share data across multiple public clouds. Its platform, called Snowflake Data Cloud, supports diverse workloads including data engineering, analytics, machine learning, and secure collaboration.
While we see SNOW’s potential as an investment, we believe certain AI stocks have greater upside potential and less downside risk. If you’re looking for highly undervalued AI stocks that could also benefit greatly from Trump-era tariffs and onshoring trends, check out our free report. Best short-term AI stocks.
Read next: The 10 best low-tech stocks to buy in the next 52 weeks, according to analysts. and 7 worst cloud stocks chosen by short sellers.
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