Citizens analyst Patrick Walravens reiterated a Market Outperform rating and $325.00 price target on Snowflake Inc. (NYSE: SNOW).

The analyst commented, "We maintain our Market Outperform rating and $325 price target on Snowflake after attending the company’s investor day on June 2 and annual user conference Summit 26 at the Moscone Center in San Francisco and after the stock has increased 11% YTD, versus an increase of 10% for the S&P 500 and the Russell 3000. Snowflake trades at a CY27E EV/revenue multiple of 11.5x, an EV/FCF multiple of 48x, and an EV/FCF multiple greater than 4,000x when adjusted for SBC, while our $325 price target implies a CY27E EV/revenue multiple of 15.5x, an EV/FCF multiple of 65x, and an EV/FCF multiple greater than 5,400x when adjusted for SBC, a premium to the peer group EV/revenue multiple that we believe is justified by its higher growth rate and large TAM."

For an analyst ratings summary and ratings history on Snowflake Inc. click here. For more ratings news on Snowflake Inc. click here.

Shares of Snowflake Inc. closed at $241.28 yesterday.