Snowflake (NYSE:SNOW) Price Target Raised to $210.00 at KeyCorp

Snowflake (NYSE:SNOW) had its target price raised by KeyCorp from $185.00 to $210.00 in a research report report published on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

SNOW has been the subject of several other reports. DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $185.00 price objective (up previously from $165.00) on shares of Snowflake in a research report on Thursday, November 21st. Royal Bank of Canada increased their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Argus started coverage on shares of Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $182.31.

Snowflake Price Performance

Shares of SNOW opened at $183.64 on Thursday. The firm has a market capitalization of $60.62 billion, a price-to-earnings ratio of -54.17 and a beta of 1.03. The firm’s fifty day simple moving average is $132.90 and its 200-day simple moving average is $129.33. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 294,278 shares of company stock worth $47,825,233 over the last three months. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently modified their holdings of the company. LRI Investments LLC grew its stake in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the second quarter valued at approximately $27,000. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the 3rd quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.