Oppenheimer Upgrades Snowflake to Outperform with $240 Price Target
Oppenheimer analysts upgraded Snowflake to an outperform rating and raised their 12-month price target by 20% to $240, citing stabilizing billings growth after three consecutive quarters of revenue beats. The firm highlighted accelerating enterprise adoption across healthcare and financial services as key drivers of renewed confidence.
1. Analyst Upgrade Spurs Optimism
Oppenheimer shifted Snowflake from a perform to an outperform rating and lifted its 12-month price target from $200 to $240, a 20% increase, after observing billings growth stabilize following three quarters of revenue beats. The upgrade reflects improving enterprise demand, particularly in healthcare and financial services, where clients are expanding use of Snowflake’s data cloud platform.
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