Snowflake (NYSE:SNOW) Given New $190.00 Price Target at Barclays

Snowflake (NYSE:SNOW) had its price objective lifted by equities research analysts at Barclays from $172.00 to $190.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 3.46% from the stock’s previous close.

SNOW has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. TD Cowen boosted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler reaffirmed an “overweight” rating and set a $185.00 target price (up from $165.00) on shares of Snowflake in a report on Thursday, November 21st. Loop Capital cut their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.31.

Snowflake Price Performance

Shares of NYSE SNOW opened at $183.64 on Friday. The firm has a market cap of $60.62 billion, a P/E ratio of -54.17 and a beta of 1.03. The business’s 50 day moving average is $132.90 and its 200-day moving average is $129.33. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Activity

In related news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 294,278 shares of company stock valued at $47,825,233. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several institutional investors have recently added to or reduced their stakes in SNOW. State Street Corp lifted its position in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC raised its stake in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after buying an additional 138,663 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board boosted its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the period. 65.10% of the stock is currently owned by 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.