Analysts Set Snowflake Inc. (NYSE:SNOW) PT at $205.08

Snowflake Inc. (NYSE:SNOW) has earned a consensus rating of “Moderate Buy” from the thirty-nine ratings firms that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $205.08.

A number of research analysts have recently commented on the company. Loop Capital raised their price target on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Wedbush set a $210.00 target price on Snowflake in a report on Wednesday, January 22nd. Citigroup boosted their price objective on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Evercore ISI upped their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th.

Snowflake Price Performance

Shares of NYSE SNOW opened at $157.01 on Tuesday. 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 firm has a market capitalization of $51.83 billion, a PE ratio of -46.31 and a beta of 1.07. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The business’s fifty day moving average price is $172.39 and its two-hundred day moving average price is $150.74.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 603,968 shares of company stock worth $99,863,550. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of SNOW. Connor Clark & Lunn Investment Management Ltd. boosted its position in Snowflake by 126.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,372 shares of the company’s stock worth $2,570,000 after buying an additional 12,492 shares during the period. Landscape Capital Management L.L.C. bought a new position in Snowflake during the 3rd quarter valued at $293,000. Massachusetts Financial Services Co. MA bought a new stake in Snowflake during the third quarter worth $11,252,000. Charles Schwab Investment Management Inc. boosted its position in Snowflake by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after purchasing an additional 36,704 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its position in shares of Snowflake by 27.2% in the third quarter. Great Valley Advisor Group Inc. now owns 15,005 shares of the company’s stock valued at $1,724,000 after acquiring an additional 3,206 shares during the period. 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.