Snowflake (NYSE:SNOW) Price Target Raised to $220.00

Snowflake (NYSE:SNOW) had its price target hoisted by Jefferies Financial Group from $190.00 to $220.00 in a research report report published on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on SNOW. Royal Bank of Canada boosted their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Needham & Company LLC boosted their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $205.00 price target on shares of Snowflake in a report on Monday. Barclays lifted their price objective on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.00.

Snowflake Stock Up 0.4%

Shares of SNOW stock opened at $182.81 on Tuesday. The stock’s 50 day simple moving average is $156.90 and its 200 day simple moving average is $162.25. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $60.35 billion, a price-to-earnings ratio of -53.93 and a beta of 1.11.

Insider Activity

In other news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This trade represents a 50.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock valued at $58,204,058 over the last three months. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Merit Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter worth approximately $493,000. HB Wealth Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at $397,000. Harbor Investment Advisory LLC lifted its stake in shares of Snowflake by 85.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 435 shares of the company’s stock valued at $67,000 after purchasing an additional 200 shares during the period. Ballentine Partners LLC bought a new position in shares of Snowflake in the 4th quarter worth $208,000. Finally, TB Alternative Assets Ltd. bought a new position in Snowflake during the fourth quarter worth about $427,000. 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.