Monness Crespi & Hardt Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its target price boosted by Monness Crespi & Hardt from $188.00 to $230.00 in a research note issued to investors on Thursday, MarketBeat.com reports. Monness Crespi & Hardt currently has a buy rating on the stock.

A number of other brokerages have also issued reports on SNOW. 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. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Friday, January 10th. Scotiabank raised their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Truist Financial restated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Finally, TD Cowen lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Up 4.6 %

Shares of SNOW stock opened at $173.78 on Thursday. The firm has a market capitalization of $57.36 billion, a PE ratio of -51.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a 1 year low of $107.13 and a 1 year high of $233.88. The stock has a fifty day moving average of $172.98 and a two-hundred day moving average of $145.14.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 1,508 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at $7,303,489.20. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 2,218 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at $36,528,625. This trade represents a 1.05 % 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 over the last three months. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of institutional investors have recently bought and sold shares of SNOW. Norges Bank purchased a new stake in shares of Snowflake during the 4th quarter worth about $988,950,000. GQG Partners LLC acquired a new position in Snowflake in the fourth quarter worth approximately $750,572,000. Jennison Associates LLC raised its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. FMR LLC lifted its stake in Snowflake by 84.9% in the fourth 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 grew its position in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Institutional investors and hedge funds 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.