Oppenheimer analyst Ittai Kidron lowered the firm’s price target on Snowflake to $190 from $230 on lower market multiples, while keeping an Outperform rating on the shares. The analyst notes Snowflake delivered a strong quarter, exceeding revenue/EPS consensus estimates. However, guidance for Q4 was below Street estimate, with incremental macro-related weakness baked into expectations, Kidron adds.
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