Analysts Just Upgraded These 5 Stocks

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1. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 81

Shares of Snowflake Inc. (NYSE:SNOW) rallied over 12 percent on Thursday, June 23, 2022, after JPMorgan upgraded the cloud computing-based data warehousing company from “Neutral” to “Overweight.”

The upgrade follows JPMorgan’s recent annual chief investment officers (CIO) survey. The research firm found in the survey that the majority of Snowflake Inc. (NYSE:SNOW)’s existing customers plan to boost their cloud spending this year.

In addition, JPMorgan analyst Mark Murphy said that Snowflake Inc. (NYSE:SNOW) shares are trading slightly higher than their IPO price of $120 despite a sharp surge in its quarterly revenue since going public in 2020.

You can also take a peek at 10 Dividend Stock Picks of Robert Pitts’ Steadfast Capital Portfolio and 10 Favorite Stocks of Dan Loeb’s Third Point.

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