Snowflake (NYSE:SNOW) Price Target Raised to $215.00

Snowflake (NYSE:SNOW) had its price objective lifted by investment analysts at Loop Capital from $205.00 to $215.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s target price would indicate a potential upside of 23.34% from the company’s current price.

Several other equities analysts have also commented on SNOW. JMP Securities reiterated a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Bank of America increased their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Oppenheimer increased their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Finally, Mizuho lifted their price target on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Price Performance

Shares of Snowflake stock traded up $8.13 during trading on Thursday, hitting $174.32. 17,852,400 shares of the company were exchanged, compared to its average volume of 5,783,613. The firm has a 50 day moving average price of $172.79 and a 200 day moving average price of $144.94. The stock has a market capitalization of $57.54 billion, a price-to-earnings ratio of -51.71 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $233.88.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,810 shares of company stock worth $63,340,544. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently modified their holdings of SNOW. Groupama Asset Managment bought a new position in Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter valued at $29,000. West Paces Advisors Inc. bought a new position in shares of Snowflake in the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake during the 4th quarter worth about $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake during the 4th quarter worth about $31,000. 65.10% of the stock is owned by 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.