Snowflake (NYSE:SNOW) Price Target Raised to $215.00 at Needham & Company LLC

Snowflake (NYSE:SNOW) had its price objective lifted by Needham & Company LLC from $200.00 to $215.00 in a research report report published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Bank of America increased their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Rosenblatt Securities increased their target price on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho lifted their price target on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Scotiabank upped their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Price Performance

Shares of Snowflake stock opened at $173.78 on Thursday. The stock has a market capitalization of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07. The firm’s 50-day moving average price is $172.98 and its two-hundred day moving average price is $145.14. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 1-year low of $107.13 and a 1-year high of $233.88.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. This represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated 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. Insiders have sold 312,193 shares of company stock worth $52,833,048 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in Snowflake in the 4th quarter valued at approximately $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake in the fourth quarter worth $31,000. Capital A Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC bought a new position in Snowflake in the fourth quarter valued at $32,000. 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.