Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Barclays Analyst Says

Snowflake (NYSE:SNOW) had its price target increased by equities research analysts at Barclays from $190.00 to $203.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 14.84% from the stock’s current price.

A number of other research firms have also commented on SNOW. Monness Crespi & Hardt upped their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. UBS Group lifted their price target on shares of Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler lifted their target price on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. One 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

SNOW stock opened at $176.76 on Thursday. The firm has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. The firm’s fifty day moving average is $173.19 and its 200 day moving average is $145.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40.

Insider Activity

In related news, Director Frank Slootman sold 2,218 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,528,625. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock worth $52,833,048 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SNOW. Norges Bank bought a new stake in Snowflake in the fourth quarter worth $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter worth about $750,572,000. Jennison Associates LLC raised its position in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. FMR LLC lifted its holdings in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

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.