Snowflake (NYSE:SNOW) Given New $188.00 Price Target at Monness Crespi & Hardt

Snowflake (NYSE:SNOW) had its price target upped by Monness Crespi & Hardt from $140.00 to $188.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. Monness Crespi & Hardt currently has a buy rating on the stock.

Several other brokerages have also recently commented on SNOW. TD Cowen lowered their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Canaccord Genuity Group cut their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Bank of America dropped their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Wells Fargo & Company reduced their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Finally, Needham & Company LLC cut their price target on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Stock Down 2.3 %

Snowflake stock opened at $167.44 on Thursday. The business’s 50-day simple moving average is $120.06 and its 200 day simple moving average is $127.80. The stock has a market cap of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,061,544 in the last ninety days. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Westside Investment Management Inc. increased its holdings in shares of Snowflake by 47.4% during the third quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock worth $1,438,000 after purchasing an additional 3,971 shares during the period. Rehmann Capital Advisory Group increased its stake in Snowflake by 10.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock worth $222,000 after acquiring an additional 190 shares during the period. Sunbelt Securities Inc. raised its holdings in Snowflake by 2.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock valued at $636,000 after acquiring an additional 142 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the period. Finally, Shaolin Capital Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth $345,000. 65.10% of the stock is owned by 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.