Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Snowflake (NYSE:SNOW) had its price objective lifted by stock analysts at Stifel Nicolaus from $187.00 to $210.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 17.67% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Snowflake from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Barclays raised their price target on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday. KeyCorp lifted their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Evercore ISI increased their price objective on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Truist Financial restated a “buy” rating and issued a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.35.

Snowflake Trading Up 7.4 %

NYSE:SNOW traded up $12.27 during trading hours on Thursday, hitting $178.46. The company had a trading volume of 10,207,835 shares, compared to its average volume of 5,570,015. Snowflake has a 1 year low of $107.13 and a 1 year high of $233.88. The company has a market cap of $58.91 billion, a P/E ratio of -52.73 and a beta of 1.07. The company has a 50-day moving average of $172.79 and a 200 day moving average of $144.94. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 371,810 shares of company stock worth $63,340,544. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new position in Snowflake during the fourth quarter worth approximately $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 purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at $5,851,000. 65.10% of the stock is 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.