Snowflake price target raised to $205 from $185 at Loop Capital

Loop Capital analyst Mark Schappel raised the firm’s price target on Snowflake (SNOW) to $205 from $185 and keeps a Buy rating on the shares as part of a broader research note fine-tuning estimates on select Software names. The firm notes that its inputs with company management, field personnel, and potential buyers suggest that business fundamentals remain relatively consistent with recent quarters, setting the stage for most software vendors to report in line to slightly better- than-expected December prints. For the company, Loop believes that there is plenty of appreciation potential left in this name given several growth catalysts, including a strong product cycle that drives more workloads on the platform, recent go-to-market changes to accelerate consumption and growth, and Generative AI tailwinds, the analyst tells investors in a research note.