KeyCorp Issues Pessimistic Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price objective cut by KeyCorp from $220.00 to $192.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on SNOW. Citigroup increased their price target on shares of Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Oppenheimer lifted their price target on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Stifel Nicolaus increased their price objective on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. UBS Group boosted their target price on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Bank of America increased their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Snowflake Stock Performance

Shares of SNOW opened at $143.34 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $159.87 and a 200-day moving average price of $154.12. The company has a market cap of $47.32 billion, a PE ratio of -42.28 and a beta of 1.13. Snowflake has a 12-month low of $107.13 and a 12-month high of $194.40.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock valued at $82,405,796 in the last three months. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Opal Wealth Advisors LLC purchased a new position in Snowflake in the first quarter worth about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $29,000. CVA Family Office LLC raised its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter valued at approximately $31,000. Finally, Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter valued at $31,000. 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.