Snowflake (NYSE:SNOW) Price Target Raised to $203.00

Snowflake (NYSE:SNOW) had its price objective lifted by analysts at Barclays from $190.00 to $203.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 8.42% from the stock’s previous close.

A number of other analysts have also recently commented on SNOW. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their target price on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush set a $210.00 target price on Snowflake in a research note on Wednesday, January 22nd. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. Finally, TD Cowen increased their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $198.81.

Snowflake Trading Up 14.0 %

Shares of SNOW stock opened at $187.23 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $61.80 billion, a P/E ratio of -55.23 and a beta of 1.07. The firm’s fifty day simple moving average is $172.79 and its 200 day simple moving average is $144.94. Snowflake has a 1 year low of $107.13 and a 1 year high of $235.66.

Insider Activity

In related news, CAO Emily Ho sold 1,508 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 59,617 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. This trade represents a 22.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,810 shares of company stock valued at $63,340,544. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its stake in Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Prospect Financial Services LLC acquired a new position in Snowflake during the fourth quarter worth about $288,000. Independent Advisor Alliance raised its stake in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after acquiring an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in Snowflake during the fourth quarter worth about $5,851,000. Institutional investors and hedge funds 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.