Baird lowered the firm’s price target on Snowflake to $152 from $165 and keeps an Outperform rating on the shares. The firm said they reported solid FQ2 results, and the company also raised full-year revenue guidance from 24% growth to 26% and was positive on current consumption trends. Baird said they remain positive on its near- and long-term growth opportunities from shifting more data to the cloud and building AI capabilities.
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