Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Piper Sandler Analyst Says

Snowflake (NYSE:SNOW) had its price target hoisted by research analysts at Piper Sandler from $185.00 to $208.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 30.94% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Argus started coverage on Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a report on Tuesday, November 19th. Barclays upped their price target on Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.11.

Snowflake Stock Performance

NYSE SNOW opened at $158.85 on Monday. 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 company has a market cap of $52.44 billion, a P/E ratio of -46.86 and a beta of 1.05. The stock has a 50-day moving average of $153.71 and a two-hundred day moving average of $133.22. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Activity

In other news, Director Frank Slootman sold 45,896 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred 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 approximately $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. Over the last 90 days, insiders have sold 406,904 shares of company stock valued at $66,145,855. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Groupama Asset Managment acquired a new position in shares of Snowflake during the 3rd quarter worth $25,000. V Square Quantitative Management LLC purchased a new stake in Snowflake during the third quarter worth about $30,000. Fortitude Family Office LLC acquired a new position in Snowflake during the third quarter worth about $34,000. Larson Financial Group LLC increased its holdings in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after buying an additional 152 shares in the last quarter. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.