Snowflake (NYSE:SNOW) Price Target Raised to $200.00 at Oppenheimer

Snowflake (NYSE:SNOW) had its price objective boosted by Oppenheimer from $180.00 to $200.00 in a research note released on Monday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Truist Financial reiterated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. KeyCorp upped their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Wedbush cut Snowflake from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Evercore ISI increased their price objective on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.69.

Snowflake Trading Down 0.1 %

NYSE:SNOW opened at $162.36 on Monday. The business has a fifty day moving average price of $157.39 and a 200-day moving average price of $134.18. Snowflake has a one year low of $107.13 and a one year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $53.60 billion, a price-to-earnings ratio of -47.89 and a beta of 1.05.

Insider Activity

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the sale, the executive now owns 346,741 shares in the company, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock worth $62,545,855 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.