Snowflake Inc(NYSE:SNOW) shares are ripping higher Thursday after the company reported better-than-expected financial results for the third quarter and raised guidance. Several analysts raised price targets following the print. Here's what you need to know.

What To Know:Snowflake beat analyst estimates on the top and bottom lines in the third quarter, reporting revenue of $942.09 million versus estimates of $896.99 million, and adjusted earnings of 20 cents per share versus estimates of 15 cents per share, per Benzinga Pro.

Total revenue was up 28% year-over-year. Product revenue came in at $900.3 million, up 29% year-over-year. Net revenue...