On Nov 22, major Wall Street analysts update their ratings for $Snowflake (SNOW.US)$, with price targets ranging from $160 to $225.
Morgan Stanley analyst Keith Weiss maintains with a hold rating, and adjusts the target price from $175 to $190.
Goldman Sachs analyst Kash Rangan maintains with a buy rating, and maintains the target price at $220.
Citi analyst Tyler Radke maintains with a buy rating, and adjusts the target price from $183 to $225.
Deutsche Bank analyst Brad Zelnick maintains with a buy rating, and adjusts the target price from $180 to $190.
Jefferies analyst Brent Thill maintains with a buy rating, and adjusts the target price from $145 to $180.
Furthermore, according to the comprehensive report, the opinions of $Snowflake (SNOW.US)$'s main analysts recently are as follows:
It was described as a 'redemption quarter' for Snowflake, marked by strong sales outcomes, escalating bookings strength, increased contributions from new products, and stable recurring revenue. The management's commentary was notably more assertive and optimistic than before, highlighting new products and use cases related to artificial intelligence and data engineering as sufficient to counterbalance challenges associated with Iceberg tables and customary optimization and storage hurdles.
The firm notes that the company is 'getting back on track.'
Improved third-quarter results indicate that the challenges affecting product revenue and consumption are diminishing. Notably, a reported product revenue of $900M significantly surpassed the expected $852M, suggesting a favorable performance trend, although a stance of cautious optimism is maintained until signs of continued stability are observed.
Snowflake's bookings are accelerating along with an enhanced revenue outlook for fiscal 2025. Analysts indicate that the company is gaining from notable secular tailwinds.
Snowflake could potentially stabilize at its current growth levels, attributed to its robust remaining performance obligation bookings and stabilizing net recurring revenue trends. Given the market's initial assumptions of ongoing deceleration, a re-evaluation of these assumptions may lead investors to a higher valuation of the shares.
Here are the latest investment ratings and price targets for $Snowflake (SNOW.US)$ from 16 analysts:
Note:
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