Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Snowflake (NYSE:SNOW) had its price objective boosted by research analysts at Cantor Fitzgerald from $201.00 to $228.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 28.99% from the stock’s previous close.

SNOW has been the topic of a number of other reports. UBS Group raised their price objective on Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Rosenblatt Securities lifted their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer upped their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Stock Up 1.8 %

SNOW opened at $176.76 on Thursday. The business’s fifty day simple moving average is $173.19 and its 200 day simple moving average is $145.51. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. 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 PE ratio of -52.14 and a beta of 1.07.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on 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 transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 312,193 shares of company stock valued at $52,833,048. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors have recently bought and sold shares of the company. Asset Dedication LLC raised its holdings in Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares during the last quarter. Quarry LP raised its holdings in Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after acquiring an additional 59 shares during the last quarter. Breakwater Capital Group raised its holdings in Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares during the last quarter. Gabelli Funds LLC lifted its position in Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after acquiring an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after purchasing an additional 69 shares during the last quarter. 65.10% of the stock is 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.