Snowflake (NYSE:SNOW) Given New $208.00 Price Target at Piper Sandler

Snowflake (NYSE:SNOW) had its price objective upped by Piper Sandler from $185.00 to $208.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Wells Fargo & Company boosted their target price on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Monness Crespi & Hardt boosted their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group increased their price target on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Mizuho upped their target price on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.69.

Snowflake Stock Performance

Shares of SNOW stock opened at $163.24 on Monday. The company has a current ratio of 1.88, a quick 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 50 day simple moving average of $152.90 and a 200-day simple moving average of $133.00. The company has a market cap of $53.89 billion, a price-to-earnings ratio of -48.15 and a beta of 1.05.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 45,896 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Emily Ho sold 2,021 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 406,904 shares of company stock valued at $66,145,855 over the last three months. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Groupama Asset Managment acquired a new position in Snowflake in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the 3rd quarter worth $34,000. Larson Financial Group LLC increased its stake in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares in the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in shares of Snowflake in the third quarter worth about $40,000. Institutional investors and hedge funds 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.