Jefferies Lifts Snowflake Price Target to $430 on Strong Q2 Results
Deep News
2 hours ago
Jefferies analyst Brent Thill has raised the price target for Snowflake from $385 to $430, while reaffirming a "Buy" rating following the company's better-than-expected fiscal second-quarter performance.
In a research note to investors, the analyst highlighted that Snowflake's AI coding assistant Coco added over 2,000 net new accounts quarter-over-quarter, with management describing it as the easiest product the company has ever sold.
Jefferies also indicated that further upward revisions to Snowflake's ratings are anticipated, reflecting the company's AI-driven growth potential.
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