Stifel analyst Brad Reback raised the firm’s price target on Snowflake to $235 from $200 and keeps a Buy rating on the shares after Snowflake posted what the firm calls “its biggest upside quarter in over a year.” Management indicated that they included the current stabilization trends into the FY24 guidance, resulting in a FY24 product revenue guidance increase above the beat, noted the analyst, who believes that product growth could accelerate in coming quarters.
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