Benchmark starts Snowflake coverage with Buy rating and $190 target, citing AI Data Cloud growth potential.

Benchmark initiated coverage of Snowflake with a Buy rating and a $190 price target, highlighting its role in the growing AI Data Cloud market valued over $500 billion. Despite Snowflake's stock trading 31% below last year's close, the firm emphasizes its strong Q4 earnings, expanding customer base, and accelerating AI adoption. Risks include ongoing litigation and revenue variability, but Benchmark sees Snowflake as a key player in enterprise AI infrastructure with durable growth prospects.