Get all your news in one place.
100's of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

THE TRUTH ABOUT: Wolfe sees snowflake as 4th hyperscaler after amazon aws microsoft azure and google cloud - Caught on Camera

  • Wolfe Research analyst Alex Zukin initiated coverage of Snowflake (NYSE:SNOW) with an Outperform rating and a $250 price target. 
  • The price target implies a 33.8% upside.
  • Zukin saw the potential for Snowflake "to become the 4th hyperscaler" after Amazon.com Inc (NASDAQ:AMZN), Amazon Web Services, Microsoft Corp's (NASDAQ:MSFT) Azure, and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google's Cloud.
  • Zukin saw Snowflake growing faster than AWS at the same size and scale with the best management team in software.
  • Zukin saw Snowflake already trading at "Black Friday prices" despite the holiday season being months away. Zukin saw Snowflake rally more than 40% from here.
  • Snowflake also caused multiple venture capitalists to fund companies built natively on its platform.
  • Price Action: SNOW shares traded higher by 7.90% at $187.53 on the last check Monday.
Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.