Snowflake price target raised to $300 from $275 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Snowflake (SNOW) to $300 from $275 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results in the Software sector. Software volatility remains elevated on the AI trade as there is a crowding effect with AI winners, though the firm’s checks for October off-quarter earnings were better than prior quarters, most notably from select cybersecurity vendors, as investors focus on ideas that can accelerate growth and benefit from AI trends, the analyst tells investors in a research note.