Citi Cuts Snowflake (SNOW) Price Target to $270 but Maintains Buy Rating

We recently published an article titled 12 Best Data Storage Stocks to Buy Right Now. On February 18, Citi lowered its price target on Snowflake Inc. (NYSE:SNOW) to $270 from $300 while maintaining a Buy rating. The firm attributed the stock’s 30% pullback following fiscal third-quarter results to a smaller-than-typical earnings beat and broader software sector concerns related to artificial intelligence spending. Citi characterized the decline as excessive, emphasizing Snowflake’s resilient, consumption- ...