Snowflake price target raised to $275 from $250 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Snowflake (SNOW) to $275 from $250 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company delivered a very strong quarter with acceleration at scale, including 32% product revenue growth, the analyst tells investors in a research note. The firm adds that Snowflake’s strong core consumption trends are being accompanied by new AI product traction and go-to-market changes that continue to pay dividends.