BofA lowered the firm’s price target on Snowflake (SNOW) to $195 from $275 and keeps a Buy rating on the shares. The firm is lowering price targets for many stocks in its infrastructure software sector coverage to account for meaningful downward revisions to revenue and free cash flow forecasts, its updated views on growth potential, and execution risks from AI and competition, the analyst tells investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNOW:
- Snowflake announces updates for Snowflake Intelligence, Cortex Code
- Snowflake price target lowered to $210 from $235 at UBS
- Moderately bullish activity in Snowflake with shares up 3.52%
- Mixed options sentiment in Snowflake with shares up 0.9%
- Moderately bullish activity in Snowflake with shares up 6.68%