Citi analyst Tyler Radke lowered the firm’s price target on Snowflake (SNOW) to $183 from $200 and keeps a Buy rating on the shares. While the firm says it expects “solid” Q3 results with a product revenue beat of 2-3% and a raise to the “conservative” implied Q4 guide given continued hyperscaler stabilization commentary and fewer Iceberg storage headwinds, it notes that its intra-quarter checks remained mixed and cites slightly lower FY26 estimates for its price target cut. While investor sentiment “remains cautious” and the near-term catalyst path is mixed, the firm sees a good entry point ahead of stabilizing growth and a GenAI product cycle, the analyst tells investors.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SNOW:
- Options Volatility and Implied Earnings Moves This Week, November 18 – November 21, 2024
- Is SNOW a Buy, Before Earnings?
- Snowflake price target lowered to $150 from $168 at KeyBanc
- DA Davidson analysts hold an analyst/industry conference call
- Buy/Sell: Wall Street’s top 10 stock calls this week
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
