SNOW - Snowflake's Shift in Narrative and Product Velocity Key to Future Growth Analyst Says | Benzinga
Needham analyst Mike Cikos reiterated Snowflake Inc (NYSE:SNOW) with a Buy and a $210 price target.
Shares of Snowflake are among the worst performers in Cikos’ coverage year-to-date. The company pulled its long-term guidance and changed the CEO.
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The analyst said that Snowflake has to execute the shift in the narrative. In the meantime, CEO Sridhar Ramaswamy has accelerated the company’s internal product velocity, he noted.
Cikos attributed the recent upturn in Snowflake’s shares to investors understanding Mandiant’s findings and looking for additional appreciation as management execution shifts the narrative.
The analyst noted, “Mandiant’s investigation did not find any evidence to suggest that ...