Snowflake (NYSE:SNOW) Price Target Raised to $200.00

Snowflake (NYSE:SNOW) had its price objective lifted by Evercore ISI from $190.00 to $200.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a report on Tuesday, November 19th. Scotiabank increased their price objective on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. Finally, Loop Capital raised their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $187.63.

Snowflake Trading Down 2.5 %

Shares of SNOW opened at $187.86 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 12 month low of $107.13 and a 12 month high of $236.33. The stock’s 50-day moving average is $171.43 and its two-hundred day moving average is $141.17. The stock has a market cap of $62.01 billion, a PE ratio of -55.42 and a beta of 1.07.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the transaction, the executive vice president now directly owns 690,647 shares in the company, valued at approximately $123,625,813. This represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,933 shares of company stock valued at $88,283,752. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Snowflake during the fourth quarter valued at approximately $988,950,000. GQG Partners LLC purchased a new position in shares of Snowflake in the fourth quarter worth $750,572,000. Jennison Associates LLC raised its stake in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. FMR LLC raised its stake in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing 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.