KeyCorp Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price target boosted by KeyCorp from $210.00 to $220.00 in a report issued on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. Oppenheimer raised their price target on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. Scotiabank increased their target price on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. 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 research note on Thursday, November 21st. Stifel Nicolaus increased their price objective on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC raised their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Trading Up 4.6 %

Shares of SNOW stock opened at $173.78 on Thursday. The company has a market cap of $57.36 billion, a PE ratio of -51.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s 50 day simple moving average is $172.98 and its two-hundred day simple moving average is $145.14. Snowflake has a 1 year low of $107.13 and a 1 year high of $233.88.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92. Following the transaction, the executive now directly owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 2,218 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total value of $388,150.00. Following the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,528,625. The trade was a 1.05 % 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 valued at $52,833,048. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Snowflake by 73.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after acquiring an additional 335 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Snowflake in the 3rd quarter valued at approximately $231,000. Fortitude Family Office LLC acquired a new stake in Snowflake in the 3rd quarter worth approximately $34,000. Ayalon Insurance Comp Ltd. boosted its stake in Snowflake by 30.1% in the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock worth $2,246,000 after purchasing an additional 4,522 shares in the last quarter. Finally, AM Investment Strategies LLC purchased a new stake in Snowflake during the 3rd quarter worth approximately $233,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

About Snowflake

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.