Snowflake price target raised to $191 from $188 at Barclays

Barclays raised the firm’s price target on Snowflake to $191 from $188 and keeps an Equal Weight rating on the shares. Investors likely saw the company’s Q1 guidance as extra conservative given the CEO transition, but the 5.4% beat was the strongest in two years and came in above even the high-end of buyside expectations, the analyst tells investors in a research note. The firm says Snowflake’s artificial intelligence story is evolving and “seems more exciting under the new leader, but this comes at a cost to margins.”