Snowflake (NYSE:SNOW) Rating Increased to Strong-Buy at Cantor Fitzgerald

Snowflake (NYSE:SNOW) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm currently has a $201.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 17.62% from the company’s previous close.

SNOW has been the subject of a number of other research reports. Mizuho raised their target price on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. DA Davidson reissued a “buy” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Needham & Company LLC upped their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. TD Cowen increased their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group boosted their price objective on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Price Performance

Shares of NYSE SNOW opened at $170.89 on Thursday. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market cap of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The business has a 50-day simple moving average of $160.11 and a two-hundred day simple moving average of $134.83.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Groupama Asset Managment acquired a new position in shares of Snowflake in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new position in Snowflake during the third quarter worth $34,000. Perkins Coie Trust Co boosted its position in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after buying an additional 152 shares in the last quarter. Hedge funds and other 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.