Snowflake Inc. (NYSE:SNOW) Receives $205.08 Average PT from Analysts

Snowflake Inc. (NYSE:SNOW) has been given a consensus rating of “Moderate Buy” by the thirty-nine ratings firms that are covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $205.08.

Several research analysts have commented on the company. Evercore ISI lifted their target price on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer lifted their price objective on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Canaccord Genuity Group increased their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. UBS Group boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Rosenblatt Securities increased their price objective on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $150.60 on Tuesday. The firm has a market cap of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. The firm’s fifty day moving average is $171.99 and its 200-day moving average is $151.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the transaction, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 603,968 shares of company stock worth $99,863,550 over the last quarter. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently added to or reduced their stakes in SNOW. Wellington Management Group LLP raised its position in Snowflake by 1,325.2% in the fourth quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after acquiring an additional 100,912 shares during the period. 111 Capital bought a new stake in shares of Snowflake in the 4th quarter worth approximately $578,000. NorthCrest Asset Manangement LLC lifted its stake in Snowflake by 12.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock valued at $1,202,000 after purchasing an additional 875 shares during the last quarter. PKO Investment Management Joint Stock Co bought a new position in Snowflake during the fourth quarter valued at $2,007,000. Finally, Centaurus Financial Inc. increased its position in Snowflake by 15.8% in the fourth quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock worth $1,280,000 after buying an additional 1,132 shares during 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.