BofA analyst Brad Sills raised the firm’s price target on Snowflake (SNOW) to $220 from $172 and keeps a Neutral rating on the shares. Snowflake reported a “solid” Q1, with product revenue upside from strength in new products and “some help from a couple of large expansion deals that were pushed in Q4,” the analyst tells investors. Q1 results suggest that Snowflake continues to benefit from improving consumption trends in the installed base, but while commentary suggests that new workloads are ramping, the firm questions whether these will be material enough to offset slowing growth in the core over time, the analyst added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNOW:
- Snowflake price target raised to $220 from $210 at Stifel
- Snowflake price target raised to $215 from $175 at Piper Sandler
- Snowflake’s Strong Performance and Strategic Investments Justify Buy Rating
- Snowflake price target raised to $191 from $171 at Bernstein
- Snowflake price target raised to $225 from $200 at Wells Fargo
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue