Evercore ISI raised the firm’s price target on Snowflake (SNOW) to $300 from $280 and keeps an Outperform rating on the shares. Fiscal Q3 results were “solid,” with product revenue surpassing expectations and a “promising” fiscal Q4 outlook hinting at durable growth, the analyst tells investors. The company “impressed” with a 29% increase in product revenue, beating both management’s and Street estimates, while the operating margins also exceeded forecasts, the analyst added.
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Read More on SNOW:
- Snowflake price target raised to $278 from $275 at Cantor Fitzgerald
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- Wedbush recommends buying Snowflake on any weakness in shares
- Snowflake price target raised to $270 from $260 at Baird
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