Piper Sandler Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price objective upped by equities researchers at Piper Sandler from $185.00 to $208.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 28.22% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. DA Davidson reiterated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. Scotiabank boosted their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, KeyCorp increased their price target on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.69.

Snowflake Price Performance

Shares of SNOW opened at $162.22 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a 50 day moving average price of $151.98 and a 200-day moving average price of $132.75. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock has a market capitalization of $53.55 billion, a PE ratio of -47.85 and a beta of 1.05.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at $86,610,600. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 406,904 shares of company stock worth $66,145,855. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently made changes to their positions in the stock. Groupama Asset Managment purchased a new stake in Snowflake in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the third quarter valued at about $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the third quarter worth about $34,000. Larson Financial Group LLC raised its stake in Snowflake by 81.3% during the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after purchasing an additional 152 shares during the period. Finally, Waldron Private Wealth LLC acquired a new position in Snowflake in the 3rd quarter valued at about $40,000. 65.10% of the stock is currently owned by hedge funds and other 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.