Citi analyst Tyler Radke raised the firm’s price target on Snowflake to $235 from $191 and keeps a Buy rating on the shares post the Q3 report. Snowflake’s first true beat and “guide-up” quarter in at least 18 months offered a “strong endorsement” that cloud optimizations are easing as new projects recover, the analyst tells investors in a research note. The firm sees the results as marking a turning point in Snowflake fundamentals, especially with new products on the docket for fiscal 2025.
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