Snowflake (NYSE:SNOW) Given Buy Rating at Truist Financial

Truist Financial restated their buy rating on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $225.00 price target on the stock, up from their previous price target of $210.00.

Other equities analysts have also issued reports about the stock. Citigroup upped their target price on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a report on Thursday, February 20th. Evercore ISI lifted their target price on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada upped their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Barclays lifted their price objective on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Up 4.6 %

Shares of NYSE SNOW opened at $173.78 on Thursday. Snowflake has a 12-month low of $107.13 and a 12-month high of $233.88. The firm’s 50-day simple moving average is $172.98 and its 200 day simple moving average is $145.14. 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 cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock worth $52,833,048 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Groupama Asset Managment acquired a new stake in shares of Snowflake in the third quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake in the fourth quarter valued at approximately $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.