Snowflake price target raised to $185 from $171 at Bernstein

Bernstein raised the firm’s price target on Snowflake to $185 from $171 and keeps a Market Perform rating on the shares. Snowflake delivered decent Q1 results, but raised FY25 revenue guidance and strong RPO growth might overly inflate investor expectations, the analyst tells investors in a research note. The company’s long-term strategy remains unclear at best and unattainable at worst, the firm adds.