Snowflake price target lowered to $215 from $230 at Canaccord

Canaccord lowered the firm’s price target on Snowflake to $215 from $230 and keeps a Buy rating on the shares. The firm said Q1 results indicated improving top-line traction and the 2025 revenue guidance was increased to $3.3bn from $3.25bn, largely reflecting the in-quarter beat, but the magnitude of the raise compounded with generally positive consumption commentary on the call paint a meaningfully more optimistic growth picture than one quarter ago.