On Nov 21, major Wall Street analysts update their ratings for $Snowflake (SNOW.US)$, with price targets ranging from $150 to $200.
J.P. Morgan analyst Mark Murphy maintains with a buy rating, and adjusts the target price from $175 to $185.
BofA Securities analyst Bradley Sills maintains with a hold rating, and adjusts the target price from $160 to $185.
Citi analyst Tyler Radke maintains with a buy rating, and maintains the target price at $183.
Barclays analyst Raimo Lenschow maintains with a hold rating, and adjusts the target price from $142 to $172.
Wells Fargo analyst Michael Turrin maintains with a hold rating, and maintains the target price at $150.
Furthermore, according to the comprehensive report, the opinions of $Snowflake (SNOW.US)$'s main analysts recently are as follows:
Current analysis suggests that headwinds affecting product revenue and consumption at Snowflake appear to be diminishing. This observation is based on the fact that the company's Q3 product revenue of $900M notably surpassed the estimated $852M. Analysts continue to maintain a cautious stance, waiting for clearer signs of consistent stabilization.
Post their Q3 report, Snowflake's bookings are intensifying, accompanied by an uplift in their fiscal 2025 revenue outlook. It's believed that Snowflake continues to benefit from significant secular tailwinds.
Snowflake's potential to maintain its current growth levels appears viable given its robust remaining performance obligation bookings and stabilizing net recurring revenue trends. Analysts suggest that, contrary to market expectations of ongoing deceleration, a re-evaluation of investor assumptions might lead to an appreciation in share value.
The firm reported that Snowflake delivered robust third quarter results. They expressed increasing confidence in the company's prospect to grow by mid-20s percent or more in fiscal 2026, and the potential for an enhanced AI/competitive narrative moving into next year. This optimism supports a favorable mid- to long-term outlook for the company.
Following Snowflake's substantial 5% Q3 product revenue beat and guidance indicating an $18M increase for Q4, analysts remain optimistic about the company's potential. Key debates on the stock regarding its role in AI and as an 'iceberg' suggest a positive shift in narrative, reinforced by strong management commentary. Snowflake's current positioning as a leading data cloud entity is expected to benefit from rising public cloud trends. With ongoing product innovations, particularly in AI since the addition of a notable new team member, and its role in enabling AI/Gen AI workloads through a user-friendly platform, Snowflake continues to capture a significant portion of the $300B+ total addressable market.
Here are the latest investment ratings and price targets for $Snowflake (SNOW.US)$ from 16 analysts:
Note:
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