Snowflake (SNOW) Sees $10B Revenue in Sight — Wall Street Boosts Price Target

Snowflake Inc. (NYSE:SNOW) is one of the AI Stocks Analysts are Tracking Closely. On October 28, Citizens raised its price target on the stock to $325.00 from $283.00 while maintaining a Market Outperform rating.

The price target raise follows comments made by Snowflake’s Chief Revenue Officer Mike Gannon in a video interview. Based on the comments, the firm continues to view Snowflake as an attractive opportunity for capital appreciation.

“We maintain our Market Outperform rating and raise our price target to $325 from $283 after James (Jack) Dumoulin from the Instagram account ‘theschoolofhardknockz’ posted a video where he interviewed CRO Mike Gannon outside the New York Stock Exchange and asked, ‘What did you guys do in revenue this last year’ to which he replied, ‘So we’re gonna exit this year probably just over about $4.5B… and we’re getting to $10B in a couple years,’ which may constitute selective disclosure under Regulation FD — all of which left the stock up 3% intraday, after having increased ~73% year to date versus an increase of 15% for the S&P 500 and 16% for the Russell 3000.”

Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company providing a data analysis, storage, and sharing platform.

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