BofA raised the firm’s price target on Snowflake (SNOW) to $205 from $185 and keeps a Neutral rating on the shares while previewing Snowflake’s Q4 results to be reported on February 26. Looking at Similarweb fiscal Q4 total page views, the firm arrives at 5% upside to its Q4 product revenue forecast of $908M, the analyst tells investors in a preview note. However, channel feedback suggests that Snowflake is still catching up to Databricks in key categories, such as AI and developer led workloads, the analyst added.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNOW:
- Snowflake upgraded to Buy at BTIG on improving demand backdrop
- Snowflake upgraded to Buy from Neutral at BTIG
- Snowflake (SNOW) Rises after Wolfe Research Points to Improving Consumption Trends
- Delta flight crashes in Toronto, Southwest cuts corporate roles: Morning Buzz
- Lyft downgraded, Snowflake upgraded: Wall Street’s top analyst calls