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

Snowflake (NYSE:SNOW) had its price target increased by Needham & Company LLC from $200.00 to $215.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

SNOW has been the topic of several other research reports. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company boosted their price target on Snowflake from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their price target on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Oppenheimer boosted their price target on Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, UBS Group boosted their price target on Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Trading Up 1.8 %

Shares of SNOW opened at $176.76 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. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The stock’s 50-day moving average is $173.19 and its two-hundred day moving average is $145.64. The stock has a market cap of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now directly owns 44,760 shares in the company, valued at $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 312,193 shares of company stock valued at $52,833,048 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Snowflake during the 4th quarter valued at $24,081,000. Employees Retirement System of Texas lifted its position in shares of Snowflake by 300.3% during the 4th quarter. Employees Retirement System of Texas now owns 43,235 shares of the company’s stock valued at $6,676,000 after acquiring an additional 32,435 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in shares of Snowflake by 139.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 6,135 shares of the company’s stock valued at $947,000 after acquiring an additional 3,577 shares during the last quarter. Carolinas Wealth Consulting LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at $32,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at $31,000. 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.