Snowflake (NYSE:SNOW) Price Target Raised to $210.00

Snowflake (NYSE:SNOW) had its target price boosted by Stifel Nicolaus from $187.00 to $210.00 in a research report report published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other research firms have also recently commented on SNOW. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, February 18th. TD Cowen lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Thursday, February 20th. Piper Sandler lifted 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. Finally, Cantor Fitzgerald initiated coverage on shares of Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Price Performance

Snowflake stock opened at $176.76 on Thursday. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. The company’s 50 day moving average price is $173.19 and its two-hundred day moving average price is $145.64. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07.

Insider Buying and Selling

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the sale, the executive now directly owns 323,731 shares in the company, valued at $56,348,617.86. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,193 shares of company stock worth $52,833,048. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

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

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.