Why Snowflake Stock Is Rising

Snowflake Inc SNOW shares are trading higher Thursday following bullish analyst coverage from JPMorgan.

JPMorgan analyst Mark Murphy upgraded Snowflake from a Neutral rating to Overweight and announced a $165 price target, citing a surge in the company's standing based on annual CIO survey results. Murphy's price target suggests about 30% upside from Wednesday's closing price. 

Snowflake enables organizations to mobilize data with the company's Data Cloud, which is used to unite siloed data, discover and securely share data and execute diverse analytic workloads. 

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SNOW Price Action: Snowflake has traded between $405 and $110.26 over a 52-week period.

The stock was up 9.82% at $139.83 at press time, according to data from Benzinga Pro.

Photo: courtesy of Snowflake.