Snowflake price target lowered to $185 from $195 at Mizuho

Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Snowflake to $185 from $195 and keeps a Buy rating on the shares. The company’s revenue performance obligation growth meaningfully decelerated in Q3, as management cited sluggish bookings activity largely driven by shorter duration, the analyst tells investors in a research note. The firm says, however, that shorter duration does not presuppose meaningful slowdowns in consumption.