Snowflake Stock: Headed to $235?
Following Snowflake's (NYSE: SNOW) fiscal third-quarter report late last month, analysts have been rushing to upgrade their 12-month price targets for the stock. The general sentiment from analysts seems to be that the quarter's results, combined with management's updated guidance, show signs that the company's trend of decelerating top-line growth is finally stabilizing.
Among the most bullish analysts are analysts at Evercore and Citi. These analysts both boosted their 12-month price targets for the growth stock from $195 and $191, respectively, to $235. Capturing how significant these targets are, they represent about 28% upside from where the stock is trading at the time of this writing.
Let's take a closer look at these analysts' bull cases and consider whether or not their rosy views for the data cloud platform company's shares make sense.
Source Fool.com
