Citi Reiterates Buy Rating on Snowflake Inc. (SNOW)

Citi analyst Tyler Radke reiterated a Buy rating and $236.00 price target on Snowflake Inc. (NYSE: SNOW).

The analyst comments "Following our initial analyst day takeaways from last week’s Snowflake Summit event, we are summarizing some of additional takeaways from the expo floor and partner events where we talked to more than 20 customers/ partners. Conversations leaned positive particularly around customer enthusiasm of the new products including Cortex and Iceberg. Broadly we heard continued optimization easing and more conversations beginning to pivot towards GenAI exploration use cases vs migration projects that can drive the next leg of growth. Additionally, we caught with SNOW’s IR team earlier this week regarding the reported security breach and commentary suggests that the company is not expecting any negative impact to consumption or numbers."

For an analyst ratings summary and ratings history on Snowflake Inc. click here. For more ratings news on Snowflake Inc. click here.

Shares of Snowflake Inc. closed at $128.48 yesterday.

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