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.


© Provided by CNBC
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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Hedge Funds Have Never Been This Bullish On MACOM Technology Solutions Holdings Inc (MTSI)

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) and determine whether hedge funds skillfully traded this stock.

MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) investors should pay attention to an increase in support from the world’s most elite money managers of late. MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) was in 23 hedge funds’ portfolios

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Hedge Funds Are Bullish On dMY Technology Group, Inc. (DMYT)

The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Since the end of March, investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned more than 50% since its bottom. In this article you are going to find out whether hedge funds thought dMY Technology Group, Inc. (NYSE:DMYT) was a good investment heading into the third quarter and how the stock traded in comparison to the top hedge fund picks.

dMY Technology Group, Inc. (NYSE:DMYT) was in 22 hedge funds’ portfolios at the end of the second quarter of 2020. The all time high for

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Bitcoin Balances on Exchanges at 2-Year Low and That May Be a Bullish Sign

The balance of bitcoin on major exchanges has hit its lowest levels since November 2018. Yet unlike that time, when bitcoin was in the depths of the crypto winter, some see this current spate of low bitcoin balances on exchanges as a sign that a new generation of investors is putting its money in it for the long term.

The last time bitcoin balances on exchanges were at this low a point was in November 2018, according to data from Glassnode. A hard fork on Bitcoin Cash that month may have also caused the declining bitcoin balances on exchanges since some owners were moving their bitcoins to private wallets in order to claim the new tokens from the fork. Bitcoin then continued its bearish trend into the beginning of 2019, before it recovered in April of that year.

Long-term holders as a possible reason

Low bitcoin balances on centralized exchanges

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Top Emerging-Market Hedge Fund Steers Rout with Bullish Bets

For the past decade, developed-market stocks have mostly outshone emerging markets. But for Carrhae Capital, the Blackstone Group Inc.-backed hedge fund that’s handed its investors the best emerging-market equity returns among peers this year, the tide is turning.

Ali Akay, the London-based chief investment officer of Carrhae, expects returns on developing-nation equities to surpass those of the U.S. and Europe. Emerging markets didn’t fully benefit from low interest rates in the past decade and the potential for more stimulus, especially from China, should provide some support.

“We are optimistic on the trajectory of emerging markets,” Akay said in an interview. “Asset prices haven’t been juiced up as much. We just got through almost a decade of underperformance versus U.S. assets.”

EM stocks remain relatively cheap compared with U.S. peers

While the pace of recovery in emerging economies outside of China has been weak, growth will accelerate from the second quarter of next year as central banks feel little pressure

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