Evercore ISI Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price objective upped by Evercore ISI from $190.00 to $200.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 8.97% from the company’s current price.

Several other analysts also recently commented on SNOW. KeyCorp upped their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC boosted their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $187.63.

Snowflake Price Performance

Shares of SNOW stock opened at $183.54 on Wednesday. The firm has a market capitalization of $60.59 billion, a price-to-earnings ratio of -54.14 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. The stock’s 50-day simple moving average is $171.21 and its 200-day simple moving average is $140.48. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insider Activity

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares in the company, valued at approximately $124,515,900. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of SNOW. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Snowflake by 10.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 267,176 shares of the company’s stock valued at $43,341,000 after buying an additional 24,493 shares in the last quarter. Korea Investment CORP lifted its holdings in Snowflake by 74.4% in the fourth quarter. Korea Investment CORP now owns 283,576 shares of the company’s stock valued at $43,787,000 after acquiring an additional 120,961 shares during the period. Tyler Stone Wealth Management purchased a new stake in shares of Snowflake during the 4th quarter worth $896,000. Ausdal Financial Partners Inc. acquired a new position in shares of Snowflake during the 4th quarter worth $246,000. Finally, Keystone Investors PTE Ltd. purchased a new position in shares of Snowflake in the 4th quarter valued at about $2,055,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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.