Snowflake (NYSE:SNOW) Price Target Raised to $200.00

Snowflake (NYSE:SNOW) had its price objective lifted by Jefferies Financial Group from $180.00 to $200.00 in a report published on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

SNOW has been the subject of several other research reports. Morgan Stanley reissued an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. KeyCorp boosted their price target on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Canaccord Genuity Group decreased their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Evercore ISI boosted their target price on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Scotiabank raised their price target 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.46.

Snowflake Trading Down 4.8 %

Shares of NYSE SNOW opened at $162.59 on Monday. 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 company’s fifty day moving average is $142.12 and its 200-day moving average is $130.22. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a market cap of $53.67 billion, a price-to-earnings ratio of -47.96 and a beta of 1.03.

Insider Activity

In related news, EVP Christian Kleinerman sold 861 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $95,924.01. Following the sale, the executive vice president now owns 751,755 shares of the company’s stock, valued at $83,753,024.55. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 292,901 shares of company stock valued at $48,375,520. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently bought and sold shares of the company. LRI Investments LLC boosted its position in shares of Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Groupama Asset Managment bought a new stake in Snowflake during the third quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the 2nd quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Snowflake during the 3rd quarter worth $34,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.