Snowflake price target raised to $250 from $200 at DA Davidson

DA Davidson raised the firm’s price target on Snowflake (SNOW) to $250 from $200 and keeps a Buy rating on the shares. The firm cites the company’s “strong” Q1 earnings highlighted by continued strength in the core business leading to better than expected product revenue growth, the analyst tells investors in a research note. Snowflake management also continued to reiterate that they’re seeing consumption in the core business remaining strong while adoption and traction of Snowflake’s latest AI/ML products is ramping quickly, the firm added.