Snowflake (NYSE:SNOW) Targets Growth in Cloud Analytics Market

Core Insights - Snowflake is a significant player in the cloud data warehousing and analytics sector, competing with major companies like Google Cloud [1] - Raymond James has set a price target of $250 for Snowflake, indicating a potential price increase of approximately 16.03% from its current price of $215.47 [2][6] - Snowflake has introduced 370 new product capabilities, representing a 35% increase year-to-date, showcasing its commitment to innovation [2][6] - The global cloud analytics market is projected to grow from $35.39 billion in 2024 to $130.63 billion by 2030, with a compound annual growth rate of 25.5% from 2025 to 2030, positioning Snowflake to capitalize on this growth [3] - Snowflake's customer base has expanded to over 7,300 customers utilizing its AI and machine learning tools weekly [3] - Google Cloud reported a backlog of $155 billion by the end of Q3 2025, reflecting a 46% sequential increase, indicating strong competition in the cloud data and analytics sector [4] Stock Performance - Snowflake's current stock price is $215.47, reflecting a decrease of $2.47 or -1.13% from the previous trading session [5] - The stock has traded between a low of $212 and a high of $217.63 on the current day, with a market capitalization of approximately $72.13 billion [5]