Bernstein lowered the firm’s price target on Snowflake (SNOW) to $195 from $237 and keeps a Market Perform rating on the shares following quarterly results. Overall, the results were better than the firm expected. The stock is down, however, about 2% in after-hours trading. Bernstein believes investors were expecting to see growth acceleration. Still, it thinks Snowflake delivered better than expected guidance, and the firm likes the near-term prospect for the stock, barring any AI disruption narrative flare-up.
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