Goldman Sachs lowered its price target on Snowflake Inc. (SNOW) to $246 but maintained a Buy rating due to solid fundamentals and resilience in the software sector. RBC Capital also reduced its price target to $245, citing negative investor sentiment and a preference for companies with a clearer path to AI monetization.

Snowflake Inc. (SNOW) announced a $200 million collaboration with OpenAI to help enterprises leverage AI for data insights. The agreement makes OpenAI models available to Snowflake’s customers through Snowflake Cortex AI on major clouds, with joint go-to-market initiatives for AI deployment.

Snowflake Inc. (SNOW) offers a cloud-based data platform for organizations to consolidate data, build apps, and apply AI for business insights. While SNOW has potential, other AI stocks may offer greater upside with less downside risk. For undervalued AI stock recommendations, check out the free report on the best short-term AI stock.

Read more at Yahoo Finance: Goldman Sachs Lowers its Price Target on Snowflake Inc. (SNOW) to $246 but Maintains a Buy Rating