Snowflake (NYSE:SNOW) Price Target Raised to $203.00

Snowflake (NYSE:SNOW) had its price target increased by Barclays from $190.00 to $203.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Mizuho upped their price target on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Loop Capital upped their price target on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Rosenblatt Securities upped their price target on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Jefferies Financial Group upped their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Oppenheimer upped their price target on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned 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, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Trading Up 1.8 %

NYSE:SNOW opened at $176.76 on Thursday. Snowflake has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $173.19 and its 200-day simple moving average is $145.64. The firm has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07.

Insiders Place Their Bets

In other news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated 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 transaction, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake 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 transaction, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,193 shares of company stock valued at $52,833,048. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. Norges Bank acquired a new position in shares of Snowflake in the 4th quarter valued at about $988,950,000. GQG Partners LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at about $750,572,000. Jennison Associates LLC raised its holdings in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the period. FMR LLC raised its holdings in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after buying an additional 2,805,425 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

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.