Jefferies believes the the gap between Databricks and Snowflake (SNOW) is narrowing. Databricks announced over 60% year-over-year growth in Q3 versus Snowflake’s 28% and an over $3B fiscal 2025 exit run rate versus Snowflake’s $3.8B, the analyst tells investors in a research note. The firm believes investor concerns on Snowflake’s competitive positioning have created an attractive risk/reward in the stock, with potential upside to estimates on “tempered expectations.” Jefferies sees Databricks’ momentum as positive for Snowflake. It keeps a Buy rating on the shares with a $200 price target
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
