Snowflake fieldwork suggests early new product traction, says Citi

Citi analyst Tyler Radke says fieldwork on Snowflake suggests easing optimizations and early new product traction. The fieldwork supports the view Snowflake should see the bulk of the first wave of optimizations in the rear view by the October quarter results and that “green shoots are emerging,” led by deepening industry verticalization and new products, the analyst tells investors in a research note. Citi keeps a Buy rating on the shares with a $191 price target.