Snowflake price target lowered to $183 from $228 at Cantor Fitzgerald

Cantor Fitzgerald analyst Thomas Blakey lowered the firm’s price target on Snowflake (SNOW) to $183 from $228 and keeps an Overweight rating on the shares as part of a broader note on Infrastructure and AI Software companies. Software has underperformed year-to-date, with the IGV software benchmark down 10%, the analyst tells investors in a research note. The firm lowered its price target given the sharp pullback in software.