Citigroup Raises Snowflake (NYSE:SNOW) Price Target to $235.00

Snowflake (NYSE:SNOW) had its price target raised by Citigroup from $230.00 to $235.00 in a research note published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts have also weighed in on the stock. Rosenblatt Securities lifted their target price on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. UBS Group lifted their price objective on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Stifel Nicolaus increased their target price on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Scotiabank raised their target price on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Finally, Piper Sandler upped their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $204.14.

Snowflake Trading Up 2.3 %

Shares of Snowflake stock opened at $149.56 on Tuesday. Snowflake has a 12-month low of $107.13 and a 12-month high of $194.40. The stock has a market capitalization of $49.37 billion, a P/E ratio of -44.12 and a beta of 1.07. The company has a 50-day simple moving average of $171.02 and a 200 day simple moving average of $152.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In other news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 503,968 shares of company stock worth $84,363,550. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Groupama Asset Managment bought a new stake in Snowflake during the third quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $29,000. West Paces Advisors Inc. bought a new position in shares of Snowflake in the fourth quarter valued at $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake during the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake during the fourth quarter worth $31,000. 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.