Snowflake price target lowered to $200 from $250 at Credit Suisse

Credit Suisse analyst Phil Winslow lowered the firm’s price target on Snowflake to $200 from $250 and keeps an Outperform rating on the shares. The analyst notes reported solid Q3 results, with revenue growth of 66.6% year-over-year exceeding consensus estimates of 61.3% year-over-year; operating margin of 7.8% beating consensus 2.4%; and cRPO growth of 66.5% year-over-year roughly in-line with consensus expectations for 66.7% year-over-year.