BofA raised the firm’s price target on Snowflake to $240 from $220 and keeps a Neutral rating on the shares, citing multiple expansion across the large cap software group. The firm applies a multiple at a discount to large-cap peers citing its view that headwinds facing Snowflake’s consumption model are subsiding, though still present, the analyst noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SNOW:
- Snowflake call buyer realizes 51% same-day gains
- Needham software infrastructure analyst to hold analyst/industry conference call
- Microsoft price target raised to $430 from $390 at Stifel
- Snowflake call volume above normal and directionally bullish
- DA Davidson Data and AI analysts hold analyst/industry conference call