Snowflake (NYSE:SNOW) Price Target Raised to $228.00

Snowflake (NYSE:SNOW) had its target price upped by Cantor Fitzgerald from $201.00 to $228.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

SNOW has been the subject of several other research reports. UBS Group boosted their price objective on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Mizuho upped their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler increased their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday. 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 report on Monday, December 23rd. Finally, TD Cowen upped their price objective 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Price Performance

Snowflake stock opened at $176.76 on Thursday. The stock has a market cap of $58.35 billion, a price-to-earnings ratio of -52.14 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 1 year low of $107.13 and a 1 year high of $194.40. The firm has a 50-day moving average of $173.19 and a two-hundred day moving average of $145.64.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the sale, the executive now directly owns 308,164 shares in the company, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,193 shares of company stock valued at $52,833,048 over the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds have recently added to or reduced their stakes in the stock. Groupama Asset Managment bought a new stake in shares of Snowflake during the third quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter valued at about $29,000. West Paces Advisors Inc. acquired a new position in Snowflake during the fourth quarter worth about $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake during the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth about $31,000. 65.10% of the stock is currently owned by 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.