Jefferies raised the firm’s price target on Snowflake to $265 from $230 and keeps a Buy rating on the shares. The firm believes the setup for Snowflake is largely derisked, with the focus on FY25 product revenue growth. Snowflake is the firm’s top growth story, with multiple revenue drivers, including new product cycle, cloud spend acceleration, and AI tailwinds, justifying 17-times 2025 revenues, Jefferies says.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SNOW: