Snowflake (NYSE:SNOW) Price Target Raised to $210.00 at Stifel Nicolaus

Snowflake (NYSE:SNOW) had its target price hoisted by research analysts at Stifel Nicolaus from $187.00 to $210.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 17.67% from the company’s previous close.

Other research analysts have also issued reports about the company. UBS Group boosted their price target on Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. KeyCorp boosted their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. TD Cowen raised their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup lifted their price objective on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Bank of America increased their target price 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.35.

Snowflake Stock Up 7.4 %

Shares of NYSE SNOW traded up $12.27 during midday trading on Thursday, reaching $178.46. 10,207,835 shares of the company’s stock traded hands, compared to its average volume of 5,570,015. The company has a market cap of $58.91 billion, a price-to-earnings ratio of -52.73 and a beta of 1.07. The stock’s 50 day simple moving average is $172.79 and its 200-day simple moving average is $144.94. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a one year low of $107.13 and a one year high of $233.88.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 59,617 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $176.25, for a total value of $10,507,496.25. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. This trade represents a 22.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the company’s 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 transaction, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. The trade was a 0.08 % 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 worth $63,340,544 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors have recently modified their holdings of SNOW. Jennison Associates LLC lifted its stake in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. State Street Corp raised its holdings in shares of Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Norges Bank purchased a new position in shares of Snowflake in the fourth quarter valued at approximately $988,950,000. FMR LLC boosted its stake in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Snowflake during the fourth quarter worth approximately $750,572,000. Institutional investors and hedge funds 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.