Snowflake (NYSE:SNOW) Given New $205.00 Price Target at Bank of America

Snowflake (NYSE:SNOW) had its price target lifted by Bank of America from $185.00 to $205.00 in a report published on Thursday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

SNOW has been the topic of several other research reports. Royal Bank of Canada raised their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald initiated coverage on shares of Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. UBS Group raised their target price on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a report on Wednesday. Wedbush upgraded shares of Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Oppenheimer raised their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $192.08.

Snowflake Stock Performance

Shares of SNOW opened at $185.35 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a 50 day moving average of $172.68 and a 200 day moving average of $143.31. Snowflake has a twelve month low of $107.13 and a twelve month high of $235.66.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 394,345 shares of company stock valued at $67,286,835. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Dedication LLC grew its stake in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares during the last quarter. Quarry LP grew its stake in Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group grew its stake in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares during the last quarter. Gabelli Funds LLC grew its stake in Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after purchasing an additional 69 shares during the last quarter. 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.