Evercore ISI Raises Snowflake (NYSE:SNOW) Price Target to $190.00

Snowflake (NYSE:SNOW) had its target price lifted by Evercore ISI from $170.00 to $190.00 in a report released on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

SNOW has been the subject of a number of other research reports. UBS Group decreased their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Stifel Nicolaus reduced their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Stock Performance

SNOW opened at $167.44 on Thursday. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. The company has a fifty day moving average of $120.06 and a 200 day moving average of $127.80.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, 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. Over the last ninety days, insiders sold 59,538 shares of company stock worth $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Westside Investment Management Inc. grew its holdings in shares of Snowflake by 47.4% in the third quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock valued at $1,438,000 after purchasing an additional 3,971 shares during the period. Rehmann Capital Advisory Group grew its holdings in shares of Snowflake by 10.9% in the third quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock valued at $222,000 after purchasing an additional 190 shares during the period. Sunbelt Securities Inc. boosted its stake in Snowflake by 2.6% during the third quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock worth $636,000 after buying an additional 142 shares during the period. Toronto Dominion Bank boosted its stake in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the period. Finally, Shaolin Capital Management LLC purchased a new position in Snowflake during the third quarter worth about $345,000. 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.