Snowflake: Investor Day Product Updates Enhance Competitiveness of Core Data Warehouse Offerings

No-moat Snowflake announced several new products in data engineering, analytics, and artificial intelligence during its 2025 investor day. The company is also acquiring Crunchy Data, a cloud-hosted PostgreSQL database startup, for $250 million to expand its relational database capabilities. Following a period of heavy buildup in artificial intelligence, we are glad to see the company pivoting back to its core data warehouse product. These new products should significantly improve Snowflake’s query performance and address key pain points for customers. We are maintaining our $150 fair value estimate for now, as we still need more quantitative evidence to understand the potential growth trajectories of these new offerings. Shares currently look overvalued to us.