Why Snowflake Inc. Stock Is Moving Up

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Snowflake Inc. (NYSE: SNOW)shares are trading higher after DA Davidson initiated coverage on the stock with a Buy rating and $200 price target. The Details: DA Davidson analyst Andrew Nowinski initiated coverage on Snowflake with a Buy rating and announced a price target of $200. The analyst’s note describes Snowflake as “the best-in-class cloud data warehouse provider,” and the firm believes that Snowflake is positioned to capitalize on the AI trend. The analyst stated, “With recent acquisitions and artificial intelligence-focused products becoming generally available in the next fiscal year,…

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