Snowflake draws bullish calls from Wall Street, though some analysts say stock is fully valued

  • 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.



Frank Slootman wearing a suit and tie: Frank Slootman, CEO of Snowflake Inc. on Sept. 16th, 2020.


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Frank Slootman, CEO of Snowflake Inc. on Sept. 16th, 2020.

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.

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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%

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Coinbase head draws scorn and praise for anti employee activism post

  • Coinbase CEO Brian Armstrong wrote in a blog post over the weekend that corporate activism was a “distraction” from his company’s mission of increasing global access to cryptocurrencies like Bitcoin.
  • Mentioning charged topics like the police killing of Breonna Taylor and the upcoming presidential election, Armstrong implied that employees who wanted their company to be focused on social issues should find work elsewhere.
  • Some in the startup and venture capital world were outraged, pointing out that Armstrong tweeted “Black Lives Matter” in June.
  • Others cheered Armstrong, like investor Paul Graham.
  • Visit Business Insider’s homepage for more stories.

The CEO of cryptocurrency broker Coinbase Brian Armstrong stirred outrage and praise from Silicon Valley over the weekend by coming out with a hard line against employee activism at work in a Medium post Sunday.

Mentioning hot-button issues like the police shooting of Breonna Taylor and the upcoming U.S. election, Armstrong said he

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