Citigroup Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price objective lifted by research analysts at Citigroup from $225.00 to $230.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 34.67% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Bank of America increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft increased their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday. TD Cowen lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, KeyCorp upped their price objective on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $195.51.

Snowflake Stock Down 4.0 %

Snowflake stock opened at $170.78 on Tuesday. 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 market capitalization of $56.38 billion, a PE ratio of -50.38 and a beta of 1.07. The firm’s fifty day moving average is $172.85 and its 200 day moving average is $144.51. Snowflake has a 12-month low of $107.13 and a 12-month high of $235.66.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 59,617 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. The trade was a 22.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the transaction, the executive now owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 371,810 shares of company stock valued at $63,340,544 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently added to or reduced their stakes in SNOW. Asset Dedication LLC lifted its holdings in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after acquiring an additional 59 shares during the last quarter. Quarry LP increased its position in shares of Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after purchasing an additional 59 shares in the last quarter. Breakwater Capital Group raised its stake in Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after buying an additional 62 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

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.