Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Piper Sandler Analyst Says

Snowflake (NYSE:SNOW) had its price target raised by Piper Sandler from $185.00 to $208.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Mizuho upped their target price on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Evercore ISI lifted their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. UBS Group decreased their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, Scotiabank lifted their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $185.69.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $163.24 on Monday. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a 50 day moving average of $152.90 and a 200-day moving average of $133.00. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $53.89 billion, a P/E ratio of -48.15 and a beta of 1.05.

Insider Buying and Selling

In related news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the sale, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,904 shares of company stock worth $66,145,855 in the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. Groupama Asset Managment bought a new position in Snowflake during the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in Snowflake during the 3rd quarter worth about $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake in the 3rd quarter worth about $34,000. Larson Financial Group LLC lifted its stake in shares of Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares during the period. Finally, Waldron Private Wealth LLC bought a new stake in shares of Snowflake during the 3rd quarter valued at about $40,000. 65.10% of the stock is owned by institutional investors.

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.