Snowflake Smashes Past $100 Billion Value Amid Record 2-Day Gain
- Shares have more than tripled since IPO in September
- Analysts remain cautious on the stock with 22 ‘holds’
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Snowflake Inc. continued a post-earnings surge on Friday that sent its market valuation above $100 billion for the first time.
The cloud-computing company gained as much as 16%, a day after Wall Street largely cheered its third-quarter earnings report that revealed triple-digit revenue growth. Short-term bullish options were also active for a second day as total call volume spiked to almost five times the 20-day average.