These Analysts Boost Their Forecasts On Snowflake After Upbeat Q1 Results

Group 1 - Snowflake Inc. reported first-quarter revenue of $1.04 billion, exceeding analyst estimates of $1.01 billion, and adjusted earnings of 24 cents per share, surpassing expectations of 21 cents per share [1][2] - The company anticipates second-quarter product revenue between $1.035 billion and $1.04 billion, reflecting approximately 25% year-over-year growth, and expects full-year product revenue of $4.33 billion, also representing 25% year-over-year growth [2] - Snowflake's CEO emphasized the company's mission to empower enterprises through data and AI, highlighting the platform's ease of use and enterprise-grade performance, which has attracted over 11,000 customers [2] Group 2 - Following the earnings announcement, Snowflake shares fell by 2.1% to close at $179.12 [3] - Analysts have adjusted their price targets for Snowflake, with Needham raising it from $215 to $230, Rosenblatt from $205 to $210, UBS from $200 to $210, and Morgan Stanley from $185 to $200 [8]