Following these results, several analyst firms adjusted their outlook on Snowflake. Citizens JMP raised its price target to $245 while maintaining a Market Outperform rating, and Morgan Stanley (NYSE: MS ) increased its target to $200 with an Equalweight rating. Meanwhile, BofA Securities adjusted its price target to $220, citing concerns about Snowflake's future growth prospects despite solid quarterly outcomes. The company's total remaining performance obligations, indicating future revenue under contract, stood at $6.69 billion, exceeding the consensus estimate. Snowflake's focus on AI and machine learning capabilities, along with strategic partnerships, has bolstered its competitive position, as noted by Morgan Stanley. The firm expressed confidence in Snowflake's growth trajectory, highlighting its progress in artificial intelligence and data engineering.