Barclays analyst Raimo Lenschow maintains $Snowflake (SNOW.US)$ with a hold rating, and adjusts the target price from $172 to $190.
According to TipRanks data, the analyst has a success rate of 54.5% and a total average return of 3.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Snowflake (SNOW.US)$'s main analysts recently are as follows:
Valuation levels for Snowflake have now aligned with historical averages as software gains favor again, according to the analysts. Additionally, there may be potential for further upside since current estimates have not adjusted upwards, and as base valuations are projected till 2026.
The firm notes that the strong second half of the 2024 CIO Survey results for Data & Analytics substantiates continued confidence in the market, identifying Snowflake as the leading independent vendor in the still-fragmented vector database market.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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