Snowflake Likely To Report Lower Q1 Earnings; Here’s A Look At Recent Price Target Changes By The Most Accurate Analysts

Snowflake Inc. (NYSE:SNOW) is expected to report its financial results for the first quarter of fiscal year 2024 after the closing bell on May 24...

Snowflake Inc. (NYSE:SNOW) is expected to report its financial results for the first quarter of fiscal year 2024 after the closing bell on May 24, 2023.

Analysts expect the company to post quarterly earnings at 5 cents per share, down from year-ago earnings of 8 cents per share. The company’s revenue might come in at $608.36 million.

Snowflake shares fell 1.9% to close at $175.16 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

  • Stifel analyst Brad Reback upgraded the stock from Hold to Buy and raised the price target from $145 to $185 on May 8, 2023. This analyst sees around 6% upside in the company’s stock and has an accuracy rate of 70%.
  • Morgan Stanley analyst Keith Weiss maintained an Overweight rating and cut the price target from $225 to $215 on March 3, 2023. This analyst sees around 23% upside in the company’s stock and has an accuracy rate of 76%.
  • JP Morgan analyst Mark Murphy maintained an Overweight rating and cut the price target from $180 to $165 on March 2, 2023. This analyst sees around 6% downside in the company’s stock and has an accuracy rate of 77%.
  • Piper Sandler analyst Brent Bracelin reiterated an Overweight rating with a price target of $194 on March 24, 2023. This analyst sees around 11% upside in the company’s stock and has an accuracy rate of 74%.
  • UBS analyst Karl Keirstead maintained a Neutral rating and cut the price target from $175 to $140 on Dec. 1, 2022. This analyst sees around 20% downside in the company’s stock and has an accuracy rate of 74%.

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Snowflake shares fell 1.9% to close at $175.16 on Tuesday.

Source: https://markets.businessinsider.com/news/stocks/snowflake-likely-to-report-lower-q1-earnings-here-s-a-look-at-recent-price-target-changes-by-the-most-accurate-analysts-1032348298?op=1

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