SNOW - Snowflake Stock Has 35% Upside According to 1 Wall Street Analyst
2024-03-06 10:13:00 ET
Snowflake (NYSE: SNOW) recently reported results for the fourth quarter and full year of fiscal 2024, where quarterly revenue and adjusted earnings were above Wall Street's expectations. However, the cloud service provider's guidance for fiscal 2025 was lower than expectations, and that sent the stock down 24% following the earnings report.
A Citigroup analyst reduced their near-term price target from $290 to $240 to reflect the recent sell-off but maintained a buy rating on the shares. That figure was 35% above Monday's closing price.
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Snowflake Stock Has 35% Upside, According to 1 Wall Street Analyst