Barclays lowered the firm’s price target on Snowflake to $183 from $190 and keeps an Overweight rating on the shares. The analyst sees the company’s Q2 results as “enough to move shares higher amidst lower expectations.” Snowflake’s largest customers still serve as a growth headwind, but management noted stabilization and talked positively around new products coming on-line in the second half of 2023 that could provide investor hope for a reacceleration in fiscal 2025, the analyst tells investors in a research note.
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