Canaccord analyst Kingsley Crane lowered the firm’s price target on Snowflake to $185 from $195 and keeps a Buy rating on the shares. The analyst said it was inevitable that Snowflake would eventually decelerate after more than doubling its top line each year for three years in a row. Canaccord said even with 2024 guide coming in below consensus, we believe Snowflake is reasonably on track to hit $10B in product revenue in 2029.
Published first on TheFly
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