Evercore ISI raised the firm’s price target on Snowflake (SNOW) to $232 from $200 and keeps an Outperform rating on the shares after the company delivered “strong” fiscal Q1 results. While most of the guidance raise was a pull-forward of the Q1 beat, the firm believes the bump to full year revenue despite the macro backdrop “illustrates management’s confidence in the durability of near-term demand,” the analyst tells investors.
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