Snowflake (NYSE:SNOW) Price Target Raised to $215.00

Snowflake (NYSE:SNOW) had its price target boosted by Loop Capital from $205.00 to $215.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on SNOW. Wedbush set a $210.00 target price on Snowflake in a research report on Wednesday, January 22nd. Royal Bank of Canada increased their price target on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. KeyCorp boosted their target price on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, TD Cowen increased their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

SNOW stock opened at $173.78 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. The company’s fifty day simple moving average is $172.98 and its 200 day simple moving average is $145.14. Snowflake has a 12-month low of $107.13 and a 12-month high of $233.88. The firm has a market cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the transaction, the executive now owns 323,731 shares of the company’s stock, valued at $56,348,617.86. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,193 shares of company stock worth $52,833,048. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC increased its stake in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp grew its holdings in shares of Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares in the last quarter. Norges Bank bought a new position in shares of Snowflake in the fourth quarter worth approximately $988,950,000. FMR LLC raised its stake in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in Snowflake during the fourth quarter valued at approximately $750,572,000. 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.