BofA analyst Brad Sills lowered the firm’s price target on Snowflake to $200 from $212 and keeps a Neutral rating on the shares ahead of the company’s Q1 report expected on May 22. Similarweb data on total page views has been found to have a high correlation to product revenue, notes the analyst, who points out that total page views started trended above normal monthly seasonality in February, though slightly below in March and significantly below in April. The firm lowers its price target ahead of earnings pending better visibility for consumption trends and progress with key AI initiatives.
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