Snowflake price target raised to $180 from $145 at Jefferies

Jefferies raised the firm’s price target on Snowflake (SNOW) to $180 from $145 and keeps a Buy rating on the shares. The company reported a strong quarter with a “record-setting beat and raise” and remaining performance obligation growth acceleration to 55% year-over-year, the analyst tells investors in a research note. The firm thinks Snowflake now “has a massive runway ahead” while Iceberg headwinds “were better-than-feared.”