TD Cowen analyst Derrick Wood raised the firm’s price target on Snowflake (SNOW) to $270 from $240 and keeps a Buy rating on the shares. The firm said they delivered 2Q growth of 32%, up from 26% in 1Q. Growth acceleration was seen across revenues, cRPO, NRR, $1m+ customers and S&M headcount. Cowen thinks results reflect dividends from the company’s faster product innovation, increased sales efficiencies and broader platform adoption.
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