Shares of Snowflake Inc (NYSE:SNOW) rose in early trading on Thursday,after the company reported upbeat fourth-quarter results.
Here are the key analyst insights:
- Goldman Sachs analyst Gabriela Borges reiterated a Buy rating, while slashing the price target from $246 to $216.
- Needham analyst Mike Cikos maintained a Buy rating, while reducing the price target from $280 to $200.
- Rosenblatt Securities analyst Blair Abernethy maintained a Buy rating and a $275 price target.
Check out other analyst stock ratings.
Goldman Sachs: Snowflake reported product revenue 2% above Street expectations and EBIT margins 350 basis points (bps) ahead. The stock came under pressure following the earnings release due to “concerns around guidance conservatism” she added.
Snowflake seems poised drive upside to Street estimates, with product revenue acceleration through the year, the analyst stated. “As Snowflake continues to broaden its monetizable surface across its AI Data Cloud (Cortex, Postgres, …