Snowflake (SNOW)
Needham & Company maintained its Buy rating and US$450.00 price target, signaling continued confidence in Snowflake’s growth outlook. In its latest reported quarter, product revenue rose 37% year over year to US$1.49 billion, while customers spending more than US$1 million annually increased 27%. Snowflake also raised its full-year product revenue forecast to US$6.07 billion. The case for the stock depends on customers expanding their use of its data platform and newer AI products. The key test is whether that growth continues at a pace that supports the current share price and Needham’s target forecast.
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