These Analysts Revise Their Forecasts On Snowflake Following Q1 Results
Portfolio Pulse from Avi Kapoor
Snowflake Inc (NYSE:SNOW) reported mixed Q1 results with revenue beating estimates but earnings missing expectations. The company sees strong growth in its AI products and has provided optimistic revenue guidance for Q2 and the full year. Analysts have revised their price targets for Snowflake, with Needham lowering its target, while Keybanc and Rosenblatt increased theirs.
May 23, 2024 | 11:59 am
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Snowflake reported mixed Q1 results with revenue beating estimates but earnings missing expectations. The company sees strong growth in its AI products and has provided optimistic revenue guidance for Q2 and the full year. Analysts have revised their price targets for Snowflake, with Needham lowering its target, while Keybanc and Rosenblatt increased theirs.
The mixed Q1 results, with revenue beating but earnings missing estimates, create a nuanced outlook. However, strong growth in AI products and optimistic revenue guidance for Q2 and the full year are positive indicators. The mixed analyst revisions, with some increasing and others decreasing price targets, suggest a cautiously optimistic short-term impact.
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