Snowflake Inc. (NYSE:SNOW) deepened its artificial intelligence (AI) push with a new partnership with Palantir Technologies Inc. (NYSE:PLTR), aiming to simplify and accelerate enterprise AI development across industries.
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The deal positions Snowflake to capture fresh growth opportunities, especially in U.S. federal markets, as demand for seamless data sharing and AI integration surges.
Rosenblatt analyst Blair Abernethy maintained a Buy rating on Snowflake with a price forecast of $250.
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Abernethy said Snowflake strengthened its position by forming a strategic partnership with Palantir Technologies Inc. (NYSE:PLTR) to integrate Snowflake's Data Cloud with Palantir's Artificial Intelligence Platform (AIP) and Foundry.
The analyst noted that the integration will enable joint customers to exchange data bidirectionally between the two systems, helping to cut the time, cost, and complexity surrounding with developing and deploying AI applications and agents.
He said this collaboration could enhance Snowflake's go-to-market position, particularly in the U.S. federal sector, which currently contributes about 1% of its consumption revenue.
Abernethy highlighted that Databricks formed a similar partnership with Palantir in March 2025.
The price forecast reflected about 14.5 times EV/S on his fiscal 2027–28 estimates.
Price Action
Snowflake operates in the rapidly evolving IT Services sector, with a market cap of $80.24 billion, reflecting strong investor confidence in its growth potential.
The stock has experienced significant volatility over the past year, with its 52-week range of $113.23 to $255.39 indicating a notable rebound from its low, suggesting robust demand for its cloud-based data solutions amidst increasing global digital transformation efforts.
SNOW shares are up 0.27% at $240.72 at the last check on Friday.
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