BofA raised the firm’s price target on Snowflake (SNOW) to $205 from $185 and keeps a Neutral rating on the shares while previewing Snowflake’s Q4 results to be reported on February 26. Looking at Similarweb fiscal Q4 total page views, the firm arrives at 5% upside to its Q4 product revenue forecast of $908M, the analyst tells investors in a preview note. However, channel feedback suggests that Snowflake is still catching up to Databricks in key categories, such as AI and developer led workloads, the analyst added.
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