Oppenheimer Reiterates Outperform Rating for Snowflake (NYSE:SNOW)

Oppenheimer reissued their outperform rating on shares of Snowflake (NYSE:SNOW) in a research report report published on Thursday morning,Benzinga reports. Oppenheimer currently has a $180.00 price target on the stock.

Several other research analysts have also recently commented on the stock. Needham & Company LLC upped their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group raised their price objective on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their price objective on shares of Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America dropped their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $185.00 price target (up previously from $165.00) on shares of Snowflake in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Stock Down 2.3 %

Shares of SNOW opened at $167.44 on Thursday. The firm has a market cap of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. The business’s 50 day moving average is $120.06 and its two-hundred day moving average is $127.80. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board boosted its stake in shares of Snowflake by 19,399.2% in 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 buying an additional 2,559,144 shares during the period. Swedbank AB bought a new stake in shares of Snowflake during the 1st quarter valued at $258,957,000. Two Sigma Advisers LP increased its position in shares of Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the period. AQR Capital Management LLC raised its stake in Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Snowflake by 471.9% during the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after purchasing an additional 628,511 shares during the period. 65.10% of the stock is owned by institutional investors.

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.