Snowflake's Q2 Revenue Growth Expectations are High, but Achievable, UBS Says

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Snowflake's Q2 Revenue Growth Expectations are High, but Achievable, UBS Says

MT Newswires Live00:50

Snowflake (SNOW) fiscal Q2 revenue growth expectations are quite high, but achievable, given robust trends like momentum with its CoCo coding agent and Snowflake Intelligence, UBS said in a Monday research report.

Snowflake is benefiting from AI by selling 1P AI-based products, like CoCo, or being pulled along by AI spend more indirectly, analysts wrote. The company is due to report fiscal Q2 results on Sept. 2.

Trends indicated growth in use cases for Snowflake's AI suite, and the most prominent use cases were a better pace of app development and agent creation, according to the note.

The brokerage said it reiterated its buy rating on the stock and boosted its price target to $425 per share from $370.

Price: 324.18, Change: -5.93, Percent Change: -1.80

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