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

Snowflake (NYSE:SNOW) had its price target boosted by Piper Sandler from $208.00 to $215.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

SNOW has been the topic of several other research reports. Loop Capital increased their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. UBS Group increased their price target on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. TD Cowen increased their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company raised their target price on shares of Snowflake from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Up 1.8 %

NYSE SNOW opened at $176.76 on Thursday. The firm’s 50-day moving average is $173.19 and its two-hundred day moving average is $145.64. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07.

Insider Activity

In other news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92. Following the completion of the transaction, the executive now owns 323,731 shares in the company, valued at $56,348,617.86. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 2,218 shares of the 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 completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,528,625. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,193 shares of company stock worth $52,833,048 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new position in Snowflake during the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new position in Snowflake during the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake during the 4th quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake during the 4th quarter valued at about $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Snowflake during the 4th quarter valued at about $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.