Snowflake price target raised to $235 from $218 at MoffettNathanson

MoffettNathanson analyst Sterling Auty raised the firm’s price target on Snowflake to $235 from $218 and keeps an Outperform rating on the shares following the investor day. The analyst was pleased to see Snowflake maintained its $10B in revenue by fiscal 2029 target. But more focus will likely be on the comments from CFO Mike Scarpelli saying volumes in May and June have returned to expected levels and customer sentiment has improved a lot the last 30 days, the analyst tells investors in a research note. The firm says it is “starting to see the green shoots of improvement in cloud volumes.”