Scotiabank analyst Patrick Colville initiated coverage of Snowflake with a Sector Perform rating and $125 price target. While Snowflake has emerged as a leader in the SaaS data warehouse market and he views the company’s medium-term runway as "compelling," Colville said the Street forecast of 47% product revenue growth in FY24 is "aggressive" given the backdrop of rapidly softening IT spending.
Published first on TheFly
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