KeyBanc analyst Eric Heath reaffirmed an Overweight rating, while lifting the price target from $185 to $200.
Rosenblatt Securities analyst Blair Abernethy maintained a Buy rating, while raising the price target from $185 to $195.
Needham analyst Mike Cikos reiterated a Buy rating, while reducing the price target from $240 to $210.
JPMorgan analyst Mark Murphy reaffirmed an Overweight rating, while raising the price target from $170 to $185.
Morgan Stanley analyst Keith Weiss maintained an Equal-Weight rating and price target of $175.
Truist analyst Joel Fishbein reaffirmed a Buy rating and price target of $210.
Mizuho analyst Gregg Moskowitz reiterated a Buy rating and price target of $205.
Goldman Sachs analyst Kash Rangan maintained a Buy rating and price target of $220.
Oppenheimer analyst Ittai Kidron reaffirmed an Outperform rating and price target of $220.
Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and price target of $240.
Bank of America Securities analyst Brad Sills maintained a Neutral rating and price target of $200.

Check out other analyst stock ratings.

RBC Capital Markets: Snowflake reported “strong” results for the quarter, with product revenue growing 34% year-on-year to $789.6 million, handsomely beating consensus of $751.5 million, Hedberg said in a note. “This points to a 5.1% beat vs 3.1% beat last qtr,” he added.

Bookings were solid, with deals of over $100 million each in the first and second quarters, the analyst stated. “Large customers also meaningfully increased usage of core offerings in what management views as a stable optimization environment,” he further wrote.

KeyBanc Capital Markets: Snowflake delivered a strong beat and raise quarter, Heath said. “The quarter highlighted Snowflake’s accelerated pace of product innovation in AI and quelled some investor long-term concerns on iceberg,” he added.

Management raised product revenue guidance by $50 million to $3.30 billion, representing 24% growth and beating consensus of $3.27 billion, the analyst stated. “F2H implicitly lowered, we believe, only because mgmt. is electing to be more conservative,” he further stated.

Rosenblatt Securities: Snowflake’s RPOs grew by 46% year-on-year to $5 billion, Abernethy …

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