Canaccord Genuity Group Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its target price boosted by Canaccord Genuity Group from $190.00 to $220.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on SNOW. Truist Financial reiterated a “buy” rating and set a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. UBS Group upped their price objective on Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Royal Bank of Canada upped their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.19.

Snowflake Trading Down 4.0 %

Shares of SNOW opened at $164.14 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $54.18 billion, a price-to-earnings ratio of -48.42 and a beta of 1.07. The stock has a fifty day moving average price of $172.71 and a two-hundred day moving average price of $144.79. Snowflake has a 52-week low of $107.13 and a 52-week high of $235.66.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 59,617 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. The trade was a 22.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,810 shares of company stock worth $63,340,544. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Groupama Asset Managment bought a new position in Snowflake during the third quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake in the fourth quarter valued at approximately $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.