Snowflake (NYSE:SNOW) Given New $220.00 Price Target at Scotiabank

Snowflake (NYSE:SNOW) had its target price raised by Scotiabank from $170.00 to $220.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other equities research analysts have also issued reports on SNOW. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC boosted their target price on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group dropped their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.89.

Snowflake Trading Down 1.6 %

Snowflake stock opened at $180.74 on Monday. The business has a 50 day moving average price of $132.90 and a two-hundred day moving average price of $128.86. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market cap of $59.66 billion, a price-to-earnings ratio of -53.32 and a beta of 1.03.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This represents a 6.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 6,251 shares of Snowflake stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the sale, the director now owns 208,735 shares of the company’s stock, valued at $23,877,196.65. This trade represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 292,114 shares of company stock valued at $47,587,279. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC increased its stake in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the last quarter. Groupama Asset Managment bought a new stake in shares of Snowflake during the 3rd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake during the 2nd quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in Snowflake in the 3rd quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Snowflake during the third quarter worth $34,000. 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.