Wolfe Research analyst Alex Zukin last night upgraded Snowflake (SNOW) to Outperform from Peer Perform with a $235 price target ahead of the Q4 earnings report on February 26. The firm sees better core consumption trends, a more favorable hyperscaler competitive backdrop, and more product momentum driving some of the highest sales growth in its coverage for Snowflake. The combination of channel checks “clearly pointing” towards stabilizing, and even improving, consumption trends and the numbers in recent quarters are backing that up, the analyst tells investors in a research note. Wolfe sees potential for further multiple expansion for Snowflake.
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 Outperform from Peer Perform at Wolfe Research
- Loop Capital technology analysts hold an analyst/industry conference call
- Morgan Stanley ’tilting positive’ on Snowflake after AI solutions updates
- Confluent price target raised to $40 from $31 at Needham
- Snowflake price target raised to $205 from $195 at Mizuho