KeyCorp Cuts Snowflake Price Target to $200, Maintains Overweight Rating

Key Facts

1KeyCorp reduced its price target for Snowflake (NYSE:SNOW) from $235.00 to $200.00 while maintaining an "overweight" rating.

2Snowflake beat quarterly earnings and revenue estimates but faces negative margins, substantial insider selling, and legal concerns.

3The stock currently holds a "Moderate Buy" consensus rating from analysts with an average target price of $245.97.

KeyCorp has reduced its price target for Snowflake (NYSE:SNOW) from $235 to $200 while maintaining an Overweight rating on the stock. The downward revision comes despite the company's recent quarterly earnings and revenue beat. The analyst firm cited concerns over Snowflake's negative margins, substantial insider selling activity, and ongoing legal issues as key factors for the adjustment. The stock currently holds a Moderate Buy consensus rating among analysts, with an average price target of $245.97, significantly higher than KeyCorp's new target. This move reflects a near-term caution shift amid operational challenges, despite strong fundamental performance. Sentiment remains divided between confidence in the long-term business model and immediate operational concerns.