Benzinga | Aug 26, 2021 10:31AM EDT

How Analysts Treated Snowflake Post Q2?

* Analysts raised their price target following Snowflake Inc's (NYSE:SNOW) Q2 beat betting on strong enterprise consumption.

* Barclays analyst Raimo Lenschow raised the price target to $295 from $270, implying a 4% upside, and reiterated an Equal Weight rating.

* However, the meaningful slowdown in RPO and bookings growth coupled with FY22 sales guidance could baffle investors, Lenschow said.

* Loop Capital analyst Yun Kim raised the price target to $295 from $250 but kept a Hold.

* Piper Sandler analyst Brent Bracelin raised the price target to $305 from $290, signifying a 7.5% upside, and maintained an Overweight.

* Bracelin increased revenue estimates by $42 million for 2022 and $35 million for 2023 based on robust consumption and customer addition trends.

* JMP Securities analyst Patrick Walravens raised the price target to $320 from $300, implying a 12.8% upside, and affirmed an Outperform.

* Deutsche Bank analyst Patrick Colville raised the price target to $320 from $265 and maintained a Buy.

* Mizuho analyst Gregg Moskowitz raised the price target to $340 from $320, implying a 19.8% upside, and reiterated a Buy.

* Goldman Sachs analyst Kash Rangan raised the price target to $340 from $300 and affirmed a Buy.

* Cowen analyst J. Derrick Wood raised the price target to $335 from $310, implying an 18.1% upside, and reiterated an Outperform.

* Price Action: SNOW shares traded higher by 4.25% at $295.83 in the market session on the last check Thursday.