Snowflake (NYSE:SNOW) Earns “Buy” Rating from Truist Financial

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a research report issued on Thursday,Benzinga reports. They currently have a $225.00 price target on the stock, up from their previous price target of $210.00. Truist Financial’s price objective would indicate a potential upside of 27.29% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Wedbush set a $210.00 price target on Snowflake in a report on Wednesday, January 22nd. Citigroup upped their target price on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. Loop Capital increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Scotiabank lifted their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Stock Up 1.8 %

Snowflake stock opened at $176.76 on Thursday. The firm has a market capitalization of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. 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 twelve month low of $107.13 and a twelve month high of $194.40. The stock’s fifty day simple moving average is $173.19 and its 200-day simple moving average is $145.51.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,193 shares of company stock worth $52,833,048. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently made changes to their positions in SNOW. Groupama Asset Managment acquired a new position in Snowflake during the third quarter worth about $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake during the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake during the fourth quarter worth $31,000. 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.