Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Piper Sandler Analyst Says

Snowflake (NYSE:SNOW) had its price target upped by equities researchers at Piper Sandler from $185.00 to $208.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 28.22% from the company’s current price.

SNOW has been the topic of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. KeyCorp raised their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. DA Davidson reissued a “buy” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. UBS Group dropped their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, TD Cowen boosted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.69.

Snowflake Price Performance

Shares of NYSE SNOW opened at $162.22 on Monday. The firm has a market cap of $53.55 billion, a P/E ratio of -47.85 and a beta of 1.05. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. 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 has a 50 day moving average of $151.98 and a 200 day moving average of $132.75.

Insider Activity

In other Snowflake 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 transaction of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 406,904 shares of company stock worth $66,145,855. 7.80% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its holdings in shares of Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the period. Independent Advisor Alliance lifted its position in shares of 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 last quarter. Franklin Resources Inc. boosted its stake in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Snowflake by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after purchasing an additional 36,704 shares during the last quarter. Finally, Sender Co & Partners Inc. lifted its holdings in Snowflake by 100.9% during the 3rd quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock valued at $979,000 after buying an additional 4,280 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.