Snowflake price target lowered to $170 from $200 at JPMorgan

JPMorgan lowered the firm’s price target on Snowflake to $170 from $200 and keeps an Overweight rating on the shares following the Q4 report. The analyst says Snowflake shares “were baking in too much complacency and may rightfully spend some time in the penalty box” because the company’s consumption trend picked up more in the July and October quarters. However, the firm sees the potential that “de-risked guidance” could create an improving backdrop progressing through the year.