Piper Sandler Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its target price raised by Piper Sandler from $185.00 to $208.00 in a research report report published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on SNOW. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Argus started coverage on shares of Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. Evercore ISI boosted their price target on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, DA Davidson restated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $187.11.

Snowflake Price Performance

SNOW stock opened at $161.16 on Monday. The stock has a 50-day moving average price of $154.55 and a two-hundred day moving average price of $133.42. The stock has a market cap of $53.20 billion, a PE ratio of -47.54 and a beta of 1.05. 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 1 year low of $107.13 and a 1 year high of $237.72.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently added to or reduced their stakes in SNOW. Modus Advisors LLC grew its holdings in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares in the last quarter. Catalyst Private Wealth LLC grew its stake in Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after buying an additional 115 shares in the last quarter. Covestor Ltd increased its holdings in Snowflake by 16.2% in the 3rd quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after buying an additional 115 shares during the period. Finally, Alta Wealth Advisors LLC raised its position in shares of Snowflake by 3.9% in the 3rd quarter. Alta Wealth Advisors LLC now owns 3,210 shares of the company’s stock valued at $369,000 after buying an additional 121 shares in the last quarter. 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.