DA Davidson raised the firm’s price target on Snowflake (SNOW) to $275 from $250 and keeps a Buy rating on the shares. The company reported “strong” Q2 results that were underscored by a notable re-acceleration of product revenue, driven by core data warehouse outperformance due to large customer migrations, the analyst tells investors in a research note. The management also noted that they’re continuing to see products throughout all four product buckets perform better than they’re expecting, with a clear path for durable growth in these categories, the firm added.
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Read More on SNOW:
- Snowflake price target raised to $276 from $235 at BTIG
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