KeyBanc Capital Markets has revised its price target for Snowflake (SNOW, Financial), lowering it from $220 to $192. This adjustment comes as the firm observes a challenging macroeconomic environment and declining peer valuation multiples. Despite the modification, the firm maintains an Overweight rating on the stock.
The decision is driven by signals that, while first-quarter bookings may align with expectations, the company might issue cautious guidance updates. This caution is attributed to the current trend of expanding sales pipelines but decelerating contract signings, according to KeyBanc's assessments.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 41 analysts, the average target price for Snowflake Inc (SNOW, Financial) is $207.74 with a high estimate of $440.00 and a low estimate of $115.00. The average target implies an upside of 42.21% from the current price of $146.08. More detailed estimate data can be found on the Snowflake Inc (SNOW) Forecast page.
Based on the consensus recommendation from 47 brokerage firms, Snowflake Inc's (SNOW, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Snowflake Inc (SNOW, Financial) in one year is $330.85, suggesting a upside of 126.49% from the current price of $146.08. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Snowflake Inc (SNOW) Summary page.
