Snowflake price target lowered to $160 from $200 at BofA

BofA analyst Brad Sills lowered the firm’s price target on Snowflake to $160 from $200 and keeps a Neutral rating on the shares ahead of the Q2 results on August 21. The firm’s Cloud View data suggests that consumption is improving, with total page views rebounding in July after slowing in June, the analyst tells investors in a research note. The firm expects product revenue up 31% year over year, saying it is encouraged by the July total page view uptick, which is perhaps an indication of growing interest in multiple new or improved new products under Sridhar’s leadership.