Snowflake

Barclays analyst Raimo Lenschow downgrades Snowflake (NYSE:SNOW) from Overweight to Equal-Weight and announces $198 price target.

Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/08/2024 19.68% Needham → $225 Reiterates Buy → Buy 01/05/2024 22.34% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -14.89% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 32.98% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 22.34% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 1.06% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 20.21% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 1.06% Raymond James $170 → $190 Maintains Outperform 11/30/2023 25% Stifel $200 → $235 Maintains Buy 11/30/2023 11.7% Truist Securities $200 → $210 Maintains Buy 11/30/2023 12.77% JMP Securities $200 → $212 Maintains Market Outperform 11/30/2023 11.7% Mizuho $180 → $210 Maintains Buy 11/30/2023 27.66% Oppenheimer $220 → $240 Maintains Outperform 11/30/2023 11.7% Wells Fargo $190 → $210 Maintains Overweight 11/30/2023 6.38% JP Morgan $170

RBC Capital analyst Matthew Hedberg initiates coverage on Snowflake (NYSE:SNOW) with a Outperform rating and announces Price Target of $230.

Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 -14.17% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 34.11% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 23.38% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 1.93% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 21.24% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 1.93% Raymond James $170 → $190 Maintains Outperform 11/30/2023 26.07% Stifel $200 → $235 Maintains Buy 11/30/2023 12.65% Truist Securities $200 → $210 Maintains Buy 11/30/2023 13.73% JMP Securities $200 → $212 Maintains Market Outperform 11/30/2023 12.65% Mizuho $180 → $210 Maintains Buy 11/30/2023 28.75% Oppenheimer $220 → $240 Maintains Outperform 11/30/2023 12.65% Wells Fargo $190 → $210 Maintains Overweight 11/30/2023 7.29% JP Morgan $170 → $200 Maintains Overweight 11/30/2023 23.38% Morgan Stanley $215 → $230 Maintains Overweight 11/30/2023 20.7% Needham $216 → $225 Maintains

Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/02/2024 30.09% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 19.68% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -1.13% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 17.6% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 -1.13% Raymond James $170 → $190 Maintains Outperform 11/30/2023 22.28% Stifel $200 → $235 Maintains Buy 11/30/2023 9.27% Truist Securities $200 → $210 Maintains Buy 11/30/2023 10.31% JMP Securities $200 → $212 Maintains Market Outperform 11/30/2023 9.27% Mizuho $180 → $210 Maintains Buy 11/30/2023 24.88% Oppenheimer $220 → $240 Maintains Outperform 11/30/2023 9.27% Wells Fargo $190 → $210 Maintains Overweight 11/30/2023 4.07% JP Morgan $170 → $200 Maintains Overweight 11/30/2023 19.68% Morgan Stanley $215 → $230 Maintains Overweight 11/30/2023 17.08% Needham $216 → $225 Maintains Buy 11/30/2023 14.48% Piper Sandler $195 → $220 Maintains Overweight 11/29/2023

Piper Sandler analyst Brent Bracelin maintains Snowflake (NYSE:SNOW) with a Overweight and raises the price target from $220 to $250.

Oppenheimer analyst Ittai Kidron reiterated an Outperform rating on Snowflake Inc (NYSE:SNOW) with a price target of $240. The analyst highlighted Snowflake as one of his top picks for 2024. Kidron sees multiple tailwinds that can deliver upside for the year and next year’s outlook. Also Read: Snowflake Might Be Setting a New Standard in AI – Inside Their Bold Plan to Boost Revenue with Generative AI Tools The tailwinds included an improving macro environment, less intense cloud optimization activities that can drive consumption growth, expanding market presence within the Federal vertical, increasing compute consumption with upcoming new products, and growing adoption of AI/ML capabilities. While shares have bounced back in 2023 (+46%), the analyst noted that they do not fully capture the upside to expectations and are reasonably priced when accounting for ~30% top-line growth and 27% free cash flow margins. Snowflake trades at 14.6x EV/CY25 Sales, well above the peer group average

Snowflake (NYSE:SNOW) Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/11/2023 21.15% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 0.08% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 19.05% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 0.08% Raymond James $170 → $190 Maintains Outperform 11/30/2023 23.79% Stifel $200 → $235 Maintains Buy 11/30/2023 10.62% Truist Securities $200 → $210 Maintains Buy 11/30/2023 11.67% JMP Securities $200 → $212 Maintains Market Outperform 11/30/2023 10.62% Mizuho $180 → $210 Maintains Buy 11/30/2023 26.42% Oppenheimer $220 → $240 Maintains Outperform 11/30/2023 10.62% Wells Fargo $190 → $210 Maintains Overweight 11/30/2023 5.35% JP Morgan $170 → $200 Maintains Overweight 11/30/2023 21.15% Morgan Stanley $215 → $230 Maintains Overweight 11/30/2023 18.52% Needham $216 → $225 Maintains Buy 11/30/2023 15.89% Piper Sandler $195 → $220 Maintains Overweight 11/29/2023 5.35% JMP Securities → $200 Reiterates Market Outperform → Market

Piper Sandler analyst Brent Bracelin maintains Snowflake (NYSE:SNOW) with a Overweight and lowers the price target from $205 to $195.

B of A Securities analyst Bradley Sills initiates coverage on Snowflake (NYSE:SNOW) with a Neutral rating and announces Price Target of $195.