Snowflake (NYSE:SNOW) Price Target Raised to $215.00

Snowflake (NYSE:SNOW) had its price target increased by research analysts at Needham & Company LLC from $200.00 to $215.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 29.37% from the stock’s current price.

SNOW has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group boosted their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. Oppenheimer boosted their price target on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.92.

Snowflake Stock Performance

Shares of SNOW opened at $166.20 on Thursday. The firm’s 50 day moving average is $172.79 and its 200-day moving average is $144.94. The stock has a market capitalization of $54.86 billion, a P/E ratio of -49.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 12-month low of $107.13 and a 12-month high of $235.66.

Insider Transactions at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares in the company, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 371,810 shares of company stock worth $63,340,544 in the last three months. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank increased its holdings in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new position in shares of Snowflake during the fourth quarter worth approximately $288,000. Independent Advisor Alliance increased its holdings in shares of Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC bought a new position in shares of Snowflake during the fourth quarter worth approximately $5,851,000. 65.10% of the stock is owned by institutional investors.

Snowflake Company Profile

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.