Wells Fargo analyst Michael Turrin raised the firm’s price target on Snowflake (SNOW) to $150 from $125 and keeps an Equal Weight rating on the shares. The firm notes the company’s outsized Q3 beat is likely to help investors gain some comfort around model setup into next year. Bigger questions around competition, new products and whether growth can ultimately reaccelerate will drive multiples from here, Wells adds.
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Read More on SNOW:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
