Reported 6 months ago
Snowflake's stock price target was revised by analysts following their earnings report. CEO Sridhar Ramaswamy highlighted the company's approach to innovation and the role of AI in fueling their platform during the earnings call. Despite Snowflake reporting increased revenue and raising their sales guidance, the company experienced a decrease in share value by 5.4% to $154.48. Analyst reactions varied, with Needham lowering their price target but maintaining a buy rating, while Bernstein raised their price target and KeyBanc boosted theirs, all noting different aspects of Snowflake's performance and future prospects in the AI and cloud computing market.
Source: YAHOO