- BTIG analyst Gray Powell raised the price target on Snowflake Inc SNOW to $421 from $353, implying a 16.1% upside, and reiterated a Buy ahead of its Q3 results.
- After speaking with different partners and customers of the company, he is highly confident in his forecasts, given the broader demand and competitive trends in the cloud data analytics space.
- Powell adds that his discussion with one significant partner further indicated that growth across the cloud data warehouse space would not slow down for the next three or more years.
- Snowflake is a data lake, warehousing, and sharing company.
- Price Action: SNOW shares traded higher by 2.49% at $371.62 in the premarket session on the last check Monday.
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