Snowflake Inc. (SNOW) PT Lowered to $160 at Jefferies

Jefferies analyst Brent Thill lowered the price target on Snowflake Inc. (NYSE: SNOW) to $160.00 (from $210.00) while maintaining a Buy rating.

The analyst comments "SNOW is in a transition year with a product cycle and a new CEO. As it races to catch up in AI, we believe the LT fundamentals remain intact but in the NT there are a few items to watch: 1) Underwhelming AI impact in FY25; 2) Looming pricing pressure from Iceberg; 3) Business trending slightly lower than expected; 4) New CEO will take time to make his impact. Valuation has come down to 10x CY25E rev but remains the 6th most expensive co in SW. Buy, PT to $160."

You May Also Be Interested In

• Natera (NTRA) PT Raised to $270 at BTIG
• Corbus Pharmaceuticals (CRBP) PT Lowered to $34 at Mizuho
• Darling Ingredients (DAR) PT Lowered to $70 at TD Cowen