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

Snowflake (NYSE:SNOW) had its target price upped by research analysts at Canaccord Genuity Group from $190.00 to $220.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 28.82% from the company’s current price.

Several other analysts also recently issued reports on SNOW. Royal Bank of Canada boosted their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Loop Capital upped their target price on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Evercore ISI lifted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group increased their price objective on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday. Finally, Mizuho lifted their price target on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $195.51.

Snowflake Stock Performance

SNOW opened at $170.78 on Tuesday. Snowflake has a 1-year low of $107.13 and a 1-year high of $235.66. The company has a market capitalization of $56.38 billion, a price-to-earnings ratio of -50.38 and a beta of 1.07. The business has a 50 day moving average price of $172.85 and a two-hundred day moving average price of $144.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling

In other news, Director Frank Slootman sold 59,617 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,789,543.75. This trade represents a 22.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 371,810 shares of company stock valued at $63,340,544 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently modified their holdings of SNOW. Allspring Global Investments Holdings LLC raised its position in Snowflake by 73.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after purchasing an additional 335 shares during the last quarter. Forsta AP Fonden increased its stake in shares of Snowflake by 12.0% in the 3rd quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $7,294,000 after buying an additional 6,800 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Snowflake during the third quarter valued at $231,000. Strategic Wealth Investment Group LLC lifted its stake in shares of Snowflake by 3.1% during the third quarter. Strategic Wealth Investment Group LLC now owns 5,904 shares of the company’s stock valued at $651,000 after acquiring an additional 175 shares during the period. Finally, Fortitude Family Office LLC bought a new position in Snowflake in the third quarter valued at about $34,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.