Snowflake delivers ‘impressive’ beat and raise, says Truist

Truist analyst Joel Fishbein keeps a Buy rating and $210 price target on Snowflake (SNOW) after its Q3 earnings beat and guidance raise. The company’s performance reflected a combination of strengthening in their core use cases and a lower headwind than the management had expected from the introduction of Apache Iceberg support, the analyst tells investors in a research note. Snowflake management’s tone on the call also suggested confidence in the demand environment that makes Q4 product revenue guidance look conservative, Truist added.