Snowflake shares are trading lower after the company reported mixed Q1 financial results. Also, Needham and Stifel lowered their respective price targets on the stock. The stock initially traded higher, but it has since reversed.
Portfolio Pulse from Benzinga Newsdesk
Snowflake shares are trading lower after the company reported mixed Q1 financial results. Additionally, Needham and Stifel have lowered their price targets for the stock. The stock initially traded higher but has since reversed.
May 23, 2024 | 3:03 pm
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Snowflake shares are trading lower following mixed Q1 financial results and lowered price targets from Needham and Stifel. The stock initially saw an uptick but has since reversed.
The mixed Q1 financial results indicate uncertainty in the company's performance, which is compounded by the lowered price targets from Needham and Stifel. This has led to a negative market reaction, causing the stock to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100