KeyBanc analyst Eric Heath raised the firm’s price target on Snowflake (SNOW) to $185 from $150 and keeps an Overweight rating on the shares following a strong 5% Q3 product revenue beat and $18M guide above for Q4. Regarding the two key debates on the stock, iceberg and AI, the firm believes the strong results and management commentary were very encouraging in shifting the narrative on both. KeyBanc remains positive on Snowflake’s positioning as a data cloud leader benefiting from improving public cloud trends; the pace of product innovation since Sridhar’s joining, including in AI; Snowflake as an enabler of AI/Gen AI workloads with an easy-to-use platform; and a significant $300B+ TAM.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- 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:
- Snowflake price target raised to $150 from $125 at Wells Fargo
- Snowflake price target raised to $185 from $175 at JPMorgan
- Snowflake price target raised to $172 from $142 at Barclays
- Snowflake price target raised to $180 from $145 at Jefferies
- Snowflake Inc. Announces Strong Q3 Fiscal 2025 Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
