Snowflake (NYSE:SNOW) Price Target Raised to $203.00

Snowflake (NYSE:SNOW) had its price objective upped by research analysts at Barclays from $190.00 to $203.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 8.42% from the company’s current price.

Several other research analysts also recently issued reports on SNOW. Monness Crespi & Hardt upped their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Royal Bank of Canada upped their target price on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Canaccord Genuity Group upped their target price on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald started coverage on Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.81.

Snowflake Stock Performance

Snowflake stock opened at $187.23 on Thursday. The business has a 50 day moving average of $172.79 and a 200-day moving average of $144.94. Snowflake has a 1 year low of $107.13 and a 1 year high of $235.66. 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 company has a market capitalization of $61.80 billion, a P/E ratio of -55.23 and a beta of 1.07.

Insider Transactions at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 44,760 shares in the company, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated 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 owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,810 shares of company stock worth $63,340,544. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SNOW. Norges Bank bought a new position in Snowflake in the 4th quarter worth about $988,950,000. GQG Partners LLC bought a new position in Snowflake in the 4th quarter worth about $750,572,000. Jennison Associates LLC boosted 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 worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. FMR LLC boosted its position in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

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.