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

Snowflake (NYSE:SNOW) had its target price raised by Piper Sandler from $208.00 to $215.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. TD Cowen upped their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research report on Tuesday, February 18th. Oppenheimer boosted their target price on Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Up 4.6 %

Shares of NYSE:SNOW opened at $173.78 on Thursday. The business’s 50 day moving average is $172.98 and its 200 day moving average is $145.14. Snowflake has a 12-month low of $107.13 and a 12-month high of $233.88. The stock has a market cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction dated 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. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 shares were 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 directly owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. 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 quarter. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNOW. Norges Bank bought a new stake in Snowflake during the fourth quarter valued at approximately $988,950,000. GQG Partners LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at $750,572,000. Jennison Associates LLC raised its position in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. FMR LLC lifted its holdings in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $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. 65.10% of the stock is currently owned by institutional investors.

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.