Snowflake price target raised to $190 from $170 at Evercore ISI

Evercore ISI raised the firm’s price target on Snowflake (SNOW) to $190 from $170 and keeps an Outperform rating on the shares after the company delivered what the firm calls “a strong ‘beat-and-raise’ quarter.” Even with the big move in the shares in the after-market, Evercore continues to believe that the risk/reward skews to the upside looking out to FY26 as it says its product revenue growth estimate of about 21% now seems “like there should be some upside bias” and its view that operating margins are poised to move higher.