Snowflake expects strong Q2 as AI push boosts demand for cloud services
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May 23, 2024 6:44 AM EDT
Rosenblatt analyst Blair Abernethy raised the price target on Snowflake Inc. (NYSE: SNOW) to $195.00 (from $185.00) while maintaining a Buy rating.
The analyst comments "Wednesday after the market, Snowflake reported Q1 Product revenue growth of 34% (up 32% adjusting for Leap Year), ~6% above our expectations,... More
May 23, 2024 5:53 AM EDT
BTIG analyst Gray Powell reiterated a Neutral rating on Snowflake Inc. (NYSE: SNOW).
The analyst comments "SNOW delivered strong FQ1 results and increased its top line outlook for FY25. Most notably, SNOW grew product revenue to $790MM / +34% y/y in FQ1, about 6% ahead our $748MM / 26.7% est (Street $750MM). In addition, operating income was substantially ahead of our /... More
May 23, 2024 5:41 AM EDT
Goldman Sachs analyst Kash Rangan reiterated a Buy rating and $220.00 price target on Snowflake Inc. (NYSE: SNOW).
The analyst comments "We reiterate our Buy rating and $220 Price Target on Snowflake following solid F1Q25 results highlighted by Product Revenue outperforming Consensus (FactSet) by 5% (F24s average beat cadence: 3%), Non-GAAP Operating Income beating by 29%, coupled with reacceleration versus F4Q24 across... More
May 23, 2024 5:39 AM EDT
UBS analyst Karl Keirstead raised the price target on Snowflake Inc. (NYSE: SNOW) to $190.00 (from $185.00) while maintaining a Neutral rating.
The analyst comments "Snowflakes 34% growth is among the highest in Software and the 5% beat was much higher than the average 2-3% beat... More
May 23, 2024 5:17 AM EDT
Evercore ISI analyst Kirk Materne reiterated an Outperform rating and $225.00 price target on Snowflake Inc. (NYSE: SNOW).
The analyst comments "On the whole, we believe the upside in revenue and RPO offsets some of the incremental op. margin headwinds when thinking through the... More
