- At least 19 investment banks initiated coverage of Snowflake on Monday, with price targets ranging from $214 to $350.
- The stock rose 2.5% to close at $243.97.
- Analysts agree that Amazon, Microsoft and Google are Snowflake’s top competitors, but they have differing views on how much of a threat those companies pose.
Less than a month after Snowflake debuted on the stock market with the biggest software IPO in history, Wall Street analysts are rushing to make predictions on the cloud database company, which is already valued at over $67 billion.
At least 19 analysts initiated coverage of Snowflake on Monday following the post-IPO quiet period, according to reports collected by CNBC.
Among the nine buy ratings, the most bullish prediction came from Truist, which gave Snowflake a price target of $350, or 47%