Piper Sandler raised the firm’s price target on Snowflake (SNOW) to $215 from $175 and keeps an Overweight rating on the shares. The firm says Snowflake remains one of its highest conviction growth ideas to own in 2025 for a Rule 50 model with 25% growth and 25%+ free cash flow margins at $4B+ ARR scale. Solid Q1 execution evident by the $39M beat on 26% year-over-year product growth was encouraging given an uncertain macro backdrop, Piper adds.
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