Snowflake price target raised to $188 from $175 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Snowflake (SNOW) to $188 from $175 and keeps an Outperform rating on the shares. The company delivered strong Q3 results as FY25 product revenue guidance moved higher than the Q3 beat, while its RPO – Remaining Performance Obligation – also accelerated to 55% growth, the analyst tells investors in a research note. Bookings also performed well, driven by an increase in large-volume deals, and demand was broad-based as management noted multiple competitive displacements, RBC adds.