Snowflake price target lowered to $170 from $180 at Raymond James

Raymond James analyst Simon Leopold lowered the firm’s price target on Snowflake to $170 from $180 and keeps an Outperform rating on the shares following the Q4 beat. Raymond James sees some degree of linear improvement in consumption as the spending environment normalizes, and also sees incremental opportunities from the growing demand for AI and machine learning workloads, the analyst tells investors in a research note.