KeyBanc Trims Snowflake's Target to $200 as AI-Native Rivals Circle: Is the Data Cloud King Under Threat?

KeyBanc cut Snowflake’s price target by 15% to $200 from $235 while reiterating an Overweight rating, signaling a more cautious valuation view without changing its constructive stance. The update is mildly negative for sentiment, but the retained Overweight rating limits the bearishness. The news is likely to move SNOW modestly rather than drive a broad market reaction.

Analysis

KeyBanc cut Snowflake’s price target by 15% to $200 from $235 while reiterating an Overweight rating, signaling a more cautious valuation view without changing its constructive stance. The update is mildly negative for sentiment, but the retained Overweight rating limits the bearishness. The news is likely to move SNOW modestly rather than drive a broad market reaction.