Snowflake Inc SNOW shares are trading higher by 2.3% at $217.50 in Tuesday's premarket session after Rosenblatt upgraded the stock from Neutral to Buy.
Snowflake is a data lake, warehousing and sharing company that came public in 2020. To date, the company has over 3,000 customers including nearly 30% of the Fortune 500 as its customers.
Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to easily buy and ingest data almost instantaneously compared with a traditionally months-long process.
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