Stifel Reiterates Buy Rating on Snowflake Inc. (SNOW)

Stifel analyst Brad Reback reiterated a Buy rating and $210.00 price target on Snowflake Inc. (NYSE: SNOW).

The analyst commented, "Given stable consumption commentary from March quarter peers and better/inline hyperscaler results, in combination with growing contribution from newer products/capabilities, we expect a typical upside quarter. That said, while Snowflake beat Product revenue guidance/consensus by ~4% throughout FY25, given management commentary and our belief that FY25 guidance was set more conservatively, we expect more measured upside in the 2-3% range.Looking forward, we believe that management's expectations that newer product features begin to more materially supplement the stabilizing core in 2H26 might somewhat limit the potential for upside to the current 2Q consensus (~$1,013M), but we believe it should enable the company to consider larger 2H revisions.Net/net, we believe that the combination of stability within the core business, incremental new product contribution, and operational efficiency, should enable Snowflake to maintain mid-to-upper 20% product revenue/fcf growth and margin expansion in coming years."

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 $183.08 yesterday.

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