Snowflake price target raised to $220 from $200 at DA Davidson

DA Davidson raised the firm’s price target on Snowflake to $220 from $200 and keeps a Buy rating on the shares. The company reported a strong quarter, marked by better than expected product revenue growth and increased top-line guidance for the fiscal year as it continues to demonstrate that they are well positioned in both the near and long-term, the analyst tells investors in a research note. DA Davidson maintains its view of Snowflake as one of the best names in all of software at the moment, with an opportunity that is “better than most to be a notable share gainer in a world where data is the hottest new commodity”.