These Analysts Slash Price Targets On Snowflake Following Q3 Results

These Analysts Slash Price Targets On Snowflake Following Q3 Results

Snowflake Inc. SNOW posted upbeat earnings for its third quarter and issued product revenue guidance.

Snowflake’s quarterly revenue surged 67% year-over-year to $557 million, topping analysts’ estimates of $539.1 million. Its earnings came in at 11 cents per share, which beat average estimates of 4 cents per share.

Snowflake said it sees fourth-quarter product revenue to be between $535 million and $540 million. The company expects full-year product revenue to be between $1.919 billion and $1.924 billion.

Snowflake shares gained 2.3% to $146.25 in pre-market trading.

These analysts made changes to their price targets on Snowflake after the company released quarterly results.

  • Piper Sandler cut price target on Snowflake from $218 to $200. Piper Sandler analyst Brent Bracelin maintained an Overweight rating on the stock.
  • UBS slashed Snowflake price target from $175 to $140. UBS analyst Karl Keirstead maintained a Neutral rating on the stock.
  • Raymond James cut the price target on the stock from $197 to $180. Raymond James analyst Simon Leopold maintained the stock with an Outperform.
  • Needham lowered Snowflake price target from $240 to $165. Needham analyst Mike Cikos maintained the stock with a Buy.
  • JP Morgan cut Snowflake price target from $210 to $180. JP Morgan analyst Mark Murphy analyst Meta Marshall maintained an Overweight rating on the stock.

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