Databricks conference supports the resilience of "data layer" investment. UBS bullish on Snowflake (SNOW US) maintains "buy" rating.

According to the Wisdom Financial APP, UBS recently participated in an investor day event at the Databricks conference in San Francisco, exchanging ideas with 15 clients and partners and releasing a research report. Despite Databricks and Snowflake (SNOW.US) being direct competitors, the bank did not express any new concerns about Snowflake and concluded that the overall tone of the conference supported the strong investment in the "data layer", which could be a driving force for both companies. The bank recently upgraded Snowflake's rating and still maintains a "buy" rating, with a 12-month target price of $265.