Snowflake price target raised to $260 from $215 at Loop Capital

Loop Capital raised the firm’s price target on Snowflake to $260 from $215 and keeps a Buy rating on the shares ahead of its Q4 results. The stock is not valued particularly cheap at 15-tims enterprise velue to expected 2025 revenue, but Snowflake looks poised to benefit from several growth catalysts that should help the stock to perform solidly, even after it has risen sharply during the past few months, the analyst tells investors in a research note. Catalysts include a strong product cycle driving more workloads on the platform, Generative AI tailwinds as the firm helps enterprises prepare their data environments for GenAI, and the easing of cloud optimization headwinds, the firm added.