BTIG raised the firm’s price target on Snowflake (SNOW) to $235 from $220 and keeps a Buy rating on the shares. The company posted “exceptional” Q1 results with an updated FY26 outlook that was much better than expected, the analyst tells investors in a research note. Every major top line metric came in above expectations for Snowflake, and the firm believes that its product revenue growth could potentially accelerate in Q2 from Q1, BTIG adds, further noting that the adoption of AI is driving more workloads into cloud environments.
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