Snowflake price target lowered to $183 from $200 at Citi

Citi analyst Tyler Radke lowered the firm’s price target on Snowflake (SNOW) to $183 from $200 and keeps a Buy rating on the shares. While the firm says it expects “solid” Q3 results with a product revenue beat of 2-3% and a raise to the “conservative” implied Q4 guide given continued hyperscaler stabilization commentary and fewer Iceberg storage headwinds, it notes that its intra-quarter checks remained mixed and cites slightly lower FY26 estimates for its price target cut. While investor sentiment “remains cautious” and the near-term catalyst path is mixed, the firm sees a good entry point ahead of stabilizing growth and a GenAI product cycle, the analyst tells investors.