UBS Group Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price objective hoisted by UBS Group from $190.00 to $200.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also weighed in on SNOW. JMP Securities reissued a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Evercore ISI lifted their price target on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group upped their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Trading Up 4.6 %

Shares of NYSE:SNOW opened at $173.78 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07. Snowflake has a 1-year low of $107.13 and a 1-year high of $233.88. The company has a 50 day moving average price of $172.98 and a 200 day moving average price of $145.14.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total value of $388,150.00. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,528,625. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,193 shares of company stock worth $52,833,048. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Snowflake during the fourth quarter valued at about $29,000. West Paces Advisors Inc. bought a new position in shares of Snowflake in the fourth quarter worth about $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $31,000. Capital A Wealth Management LLC bought a new stake in Snowflake during the 4th quarter valued at approximately $31,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in Snowflake in the 4th quarter valued at approximately $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.