Snowflake price target lowered to $250 from $300 at DA Davidson

DA Davidson analyst Gil Luria lowered the firm’s price target on Snowflake (SNOW) to $250 from $300 but keeps a Buy rating on the shares. The company’s “strong” Q4 earnings were highlighted by a beat on top and bottom-line expectations, while the management noted that they are seeing AI as a significant tailwind to the business, the analyst tells investors in a research note. Snowflake is still seen as an AI-winner that’s relatively isolated from “vibe-coding” fears, while its conversations with The DEN continue to reinforce Snowflake as an essential piece to the enterprise AI puzzle, the firm added.