Snowflake(US:SNOW) 智通财经网·2025-12-04 15:08Core Viewpoint - Snowflake's stock price dropped nearly 10% after the release of its Q3 earnings report, despite a year-to-date increase of over 70% and strong AI business growth, leading most Wall Street firms to maintain positive ratings [1][2]. Group 1: Financial Performance - Snowflake's growth rate slowed from 32% in the previous quarter to 29% this quarter, which is still considered impressive given the company's scale [1]. - The company achieved an annualized AI revenue run-rate of $100 million for its newly launched enterprise AI agent, Snowflake Intelligence, which was realized a quarter earlier than expected [1]. - Product revenue was only 2.7% above the midpoint of guidance, falling short of market expectations for over 3% [2]. Group 2: Analyst Ratings and Price Targets - Citizens maintains an "Outperform" rating with a target price of $325 [1]. - Canaccord Genuity raised its target price from $260 to $270 and reiterated a "Buy" rating, highlighting the $200 million partnership with Anthropic as a key growth driver [2]. - Cantor also holds an "Overweight" rating, increasing its target price from $275 to $278 [2]. - Wedbush reaffirmed its "Outperform" rating and maintained a target price of $270, including Snowflake in the Ives AI 30 list [2]. Group 3: Market Potential - Snowflake's total addressable market (TAM) is projected to expand from $170 billion in 2024 to $355 billion by 2029, indicating significant long-term growth potential [1].