Oppenheimer Boosts Snowflake (NYSE:SNOW) Price Target to $220.00

Snowflake (NYSE:SNOW) had its target price raised by equities researchers at Oppenheimer from $200.00 to $220.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 24.46% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. UBS Group lifted 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. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. Jefferies Financial Group raised their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Finally, Monness Crespi & Hardt boosted their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Price Performance

Snowflake stock opened at $176.76 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The business’s 50 day simple moving average is $173.19 and its 200 day simple moving average is $145.51. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a market cap of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,193 shares of company stock valued at $52,833,048 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the business. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new position in Snowflake during the fourth quarter worth $29,000. West Paces Advisors Inc. purchased a new position in Snowflake during the fourth quarter valued at $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake during the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.