Snowflake (NYSE:SNOW) Price Target Raised to $185.00

Snowflake (NYSE:SNOW) had its price target upped by Bank of America from $160.00 to $185.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Robert W. Baird cut their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Needham & Company LLC boosted their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Evercore ISI boosted their price objective on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Price Performance

SNOW stock opened at $167.44 on Thursday. The business has a fifty day moving average price of $120.06 and a 200 day moving average price of $127.80. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83.

Insider Buying and Selling

In other news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,538 shares of company stock valued at $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank boosted its position in Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Snowflake by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after buying an additional 43,062 shares during the last quarter. Cetera Investment Advisers increased its holdings in Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares during the last quarter. LRI Investments LLC bought a new stake in Snowflake during the first quarter worth $29,000. Finally, Fulton Bank N.A. lifted its stake in Snowflake by 17.4% in the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after acquiring an additional 228 shares during the last quarter. 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.