Snowflake Inc. (NYSE:SNOW) Receives $187.11 Average Target Price from Analysts

Shares of Snowflake Inc. (NYSE:SNOW) have received a consensus rating of “Moderate Buy” from the thirty-eight analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and twenty-eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $187.11.

Several equities analysts have recently issued reports on the company. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Friday. Royal Bank of Canada raised their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial restated a “buy” rating and set a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $150.00 to $200.00 in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday.

Snowflake Trading Up 1.0 %

NYSE:SNOW opened at $162.65 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $156.42 and its two-hundred day moving average is $133.94. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a market cap of $53.69 billion, a PE ratio of -47.98 and a beta of 1.05.

Insider Buying and Selling

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock valued at $62,545,855 over the last three months. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

Several hedge funds have recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the period. Independent Advisor Alliance lifted its holdings in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Franklin Resources Inc. grew its holdings in Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after buying an additional 7,373 shares in the last quarter. Diversified Trust Co grew its position in Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock worth $758,000 after buying an additional 3,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Snowflake by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after buying an additional 36,704 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.