Snowflake (NYSE:SNOW) Given New $220.00 Price Target at Oppenheimer

Snowflake (NYSE:SNOW) had its target price increased by Oppenheimer from $200.00 to $220.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 32.37% from the stock’s current price.

Several other equities analysts also recently weighed in on SNOW. Cantor Fitzgerald initiated coverage on shares of Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 20th. UBS Group boosted their price objective on Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Canaccord Genuity Group increased their target price on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.46.

Snowflake Stock Up 1.2 %

NYSE SNOW opened at $166.20 on Thursday. Snowflake has a 52 week low of $107.13 and a 52 week high of $235.66. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $54.86 billion, a P/E ratio of -49.03 and a beta of 1.07. The stock’s 50-day moving average price is $172.79 and its 200-day moving average price is $144.94.

Insider Transactions at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 2,218 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,528,625. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,810 shares of company stock valued at $63,340,544 in the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. Allspring Global Investments Holdings LLC lifted its position in Snowflake by 73.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after acquiring an additional 335 shares during the period. J.W. Cole Advisors Inc. purchased a new position in shares of Snowflake in the third quarter worth about $231,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the third quarter worth about $34,000. Ayalon Insurance Comp Ltd. boosted its holdings in Snowflake by 30.1% in the third quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock valued at $2,246,000 after purchasing an additional 4,522 shares during the last quarter. Finally, AM Investment Strategies LLC acquired a new stake in Snowflake during the 3rd quarter worth about $233,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.