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

Snowflake (NYSE:SNOW) had its price target upped by investment analysts at Stifel Nicolaus from $187.00 to $210.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 18.80% from the company’s current price.

Other analysts have also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Bank of America upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Needham & Company LLC increased their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Loop Capital increased their price target on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Stock Up 1.8 %

Shares of NYSE:SNOW opened at $176.76 on Thursday. The business has a fifty day simple moving average of $173.19 and a 200 day simple moving average of $145.51. Snowflake has a 12-month low of $107.13 and a 12-month high of $194.40. The firm has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling

In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92. Following the sale, the executive now owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,193 shares of company stock valued at $52,833,048. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Snowflake by 73.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after purchasing an additional 335 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of Snowflake in the third quarter valued at approximately $231,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at approximately $34,000. Ayalon Insurance Comp Ltd. boosted its holdings in Snowflake by 30.1% in the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock worth $2,246,000 after buying an additional 4,522 shares during the period. Finally, AM Investment Strategies LLC purchased a new position in Snowflake in the 3rd quarter valued at approximately $233,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.