New IPO Stock Snowflake Surges On Analyst Upgrades

On its debut on the New York Stock Exchange in September, Snowflake (SNOW) soared more than 111%. Yesterday, its share price jumped nearly 15% after it reported better than expected third-quarter sales. While earnings per share recorded a wider loss than expected it still prompted a string of analysts to upgrade the price targets.

New IPO stock Snowflake surges on analyst upgrades!

For example, Morgan Stanley raised its 12-month price target to $265 from $220. Snowflake is a company which provides networked database solutions and develops cloud computing and data storage services. Some of its shareholders include Warren Buffett, via his Berkshire Hathaway (BRK-A) investment vehicle, and Salesforce (CRM).

Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.