Oppenheimer Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price target hoisted by Oppenheimer from $180.00 to $200.00 in a research report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

SNOW has been the subject of several other reports. Piper Sandler upped their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI upped their price objective on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. TD Cowen raised their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. UBS Group decreased their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $187.69.

Snowflake Stock Performance

NYSE SNOW opened at $162.36 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s 50 day simple moving average is $157.39 and its 200-day simple moving average is $134.18. The company has a market cap of $53.60 billion, a PE ratio of -47.89 and a beta of 1.05. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. The trade was a 6.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 376,904 shares of company stock worth $62,545,855. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in shares of Snowflake by 24.1% during the 3rd 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 grew its stake in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares during the period. Franklin Resources Inc. grew its stake in Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after buying an additional 7,373 shares during the period. Diversified Trust Co increased its position in shares of Snowflake by 174.8% in the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock worth $758,000 after acquiring an additional 3,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 36,704 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.