Snowflake price target lowered to $216 from $246 at Goldman Sachs

Goldman Sachs analyst Gabriela Borges lowered the firm’s price target on Snowflake (SNOW) to $216 from $246 and keeps a Buy rating on the shares. Snowflake is down 1% pre-market after Q4 results, with Q4 product revenue 2% above the Street and EBIT margins 350 basis points higher, while FY27 product revenue guidance sits 2% above the Street with EBIT margins 150bps above, the analyst tells investors in a research note. The muted reaction likely reflects concerns that guidance may be conservative, though Snowflake appears well-positioned to exceed Street estimates and drive product revenue acceleration through the year, the firm says.