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

Snowflake (NYSE:SNOW) had its price objective increased by research analysts at Needham & Company LLC from $200.00 to $215.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 29.37% from the company’s previous close.

A number of other research analysts have also recently issued reports on SNOW. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a research note on Thursday, February 20th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of Snowflake from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Loop Capital raised their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Evercore ISI raised their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.92.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $166.20 on Thursday. The company’s 50 day simple moving average is $172.79 and its 200 day simple moving average is $144.94. The stock has a market capitalization of $54.86 billion, a price-to-earnings ratio of -49.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 1 year low of $107.13 and a 1 year high of $235.66.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 59,617 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,789,543.75. The trade was a 22.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 371,810 shares of company stock valued at $63,340,544 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

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

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.