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BofA analyst Brad Sills initiated shares of Snowflake (NYSE:) at Neutral and MongoDB (NASDAQ:) with a Buy rating in separate notes Thursday.

Sills assigned SNOW a price target of $195 per share, telling investors that they believe the company is well positioned to capture further share of the $132 billion data management market given its status as a first mover in the cloud, interoperability with the major public clouds, and its platform which is capable of running multiple workloads.

“However, Snowflake’s pay-as-you-go/consumption pricing model is facing headwinds that, while improving, are still weighing on growth in the company’s core data warehouse business,” he wrote.

Meanwhile, the analyst assigned MDB a $450 price target, stating it is a “best-of-breed next-generation database vendor that is well-positioned in the rapidly growing NoSQL unstructured database market” to capture share from market leaders such as Amazon (Dynamo DB) and Microsoft (MSSQL/Cosmos DB).

The analyst also noted that AI and data workloads represent growth opportunities for the company.

By Sam Boughedda

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