Monness Crespi & Hardt Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its target price hoisted by Monness Crespi & Hardt from $188.00 to $230.00 in a research report sent to investors on Thursday, Marketbeat reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on the company. Cantor Fitzgerald initiated coverage on Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. TD Cowen lifted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. Oppenheimer lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Finally, Scotiabank boosted their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Performance

NYSE:SNOW opened at $173.78 on Thursday. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $233.88. The firm’s 50 day moving average is $172.98 and its two-hundred day moving average is $145.14. The company has a market cap of $57.36 billion, a P/E ratio of -51.26 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.

Insiders Place Their Bets

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were 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. This represents a 3.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the 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 sale, 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 have sold a total of 312,193 shares of company stock valued at $52,833,048 in the last quarter. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently made changes to their positions in the stock. Groupama Asset Managment bought a new stake in shares of Snowflake in the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake in the fourth quarter valued at $29,000. West Paces Advisors Inc. bought a new stake in Snowflake in the fourth quarter valued at $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake during the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Snowflake during the fourth quarter worth about $31,000. 65.10% of the stock is owned by 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.