Citi Reiterates Buy Rating on Snowflake Inc. (SNOW)

Citi analyst Tyler Radke reiterated a Buy rating and $200.00 price target on Snowflake Inc. (NYSE: SNOW).

The analyst comments "We attended the Snowflake AI World Tour on Tuesday where thousands of partners and customers convened to hear and learn about the latest from Snowflake and the emerging AI Data Cloud services. With no major new product announcements, the conference was more of a focus on educating around new including Cortex AI, Dynamic Tables, Iceberg and Polaris Catalog with headlining keynotes from CPO Christian Kleinerman and CMO Denise Persson. We attended several packed sessions and spoke with over 10 customers and partners. Our takeaways were mixed. Positive highlights include enthusiasm around new products including recently GA Cortex AI, Polaris and Iceberg, and some select strong usage ramps in financial services. On the contrary, usage of these newer products appears early/not needle moving, and partners highlighted continued optimization/budget constraint trends and cost concerns."

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 $118.90 yesterday.

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