- Mizuho analyst Gregg Moskowitz recently held a conference call with a Senior Director at a large consulting firm specializing in data cloud and database technologies.
- Moskowitz reiterated a Buy and price target of $200 on Snowflake Inc SNOW.
- The expert noted that industry practitioners love SNOW for its ease of use and simplicity, which he finds superior to the hyperscalers.
- The hyperscalers included Amazon.com Inc AMZN AWS, Microsoft Corp MSFT Azure, and Alphabet Inc GOOG GOOGL GCP.
- Regarding high-growth private company Databricks, he believes that Delta Lake (open source storage for data lakes) is a robust and heavy competitor to SNOW and a lot less expensive.
- He also believes SNOW's platform is easier to use (largely SQL/Python-based vs. Spark/SQL).
- He had also seen exploding demand for dbt (enabling fast deployment of analytics code for exploration and other use cases) and that it is frequently used with SNOW.
- The expert believes that SNOW is best positioned to go after the vast, broad opportunity spanning transactional, analytical, and data science workloads for data, followed by Databricks, with the hyperscalers in a relatively distant third position.
- The expert also stated a high degree of stickiness with the SNOW platform.
- Most of the expert's data warehouse rollouts for SNOW come from migrations today, specifically migrations from MSFT's SQL Server and Teradata Corp TDC and occasionally from Oracle Corp ORCL and Amazon Redshift.
- Encouragingly, the expert was very bullish on the prospect of unstructured data becoming another significant data source for SNOW.
- Price Action: SNOW shares traded lower by 5.92% at $152.17 on the last check Friday.
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