BTIG Bumps Up Snowflake Price Target By 19%, Remains Bullish

November 29, 2021 9:25 AM | 1 min read | Make a Comment

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.