Snowflake (NYSE:SNOW) Stock Rating Upgraded by Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Snowflake (NYSE:SNOW) to a strong-buy rating in a research report released on Thursday, Marketbeat reports. Cantor Fitzgerald currently has $201.00 price target on the stock.

Several other research analysts have also issued reports on the company. Scotiabank raised their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Needham & Company LLC raised their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Friday, January 10th. UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, Monness Crespi & Hardt raised their target price on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Trading Up 1.9 %

NYSE SNOW opened at $170.89 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a market cap of $56.41 billion, a price-to-earnings ratio of -50.41 and a beta of 1.05. The business’s fifty day moving average is $161.11 and its 200 day moving average is $135.02.

Insider Buying and Selling at Snowflake

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,904 shares of company stock worth $62,545,855. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC grew its holdings in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP grew its holdings in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the period. Finally, Legal & General Group Plc grew its holdings in Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares during the period. 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.