Stifel Nicolaus Boosts Snowflake (NYSE:SNOW) Price Target to $210.00

Snowflake (NYSE:SNOW) had its price target lifted by Stifel Nicolaus from $187.00 to $210.00 in a report issued on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity Group increased their price target on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays increased their target price on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Snowflake from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Stock Up 4.6 %

Shares of NYSE:SNOW opened at $173.78 on Thursday. Snowflake has a 1 year low of $107.13 and a 1 year high of $233.88. The company has a market capitalization of $57.36 billion, a PE ratio of -51.26 and a beta of 1.07. The business has a fifty day moving average price of $172.98 and a two-hundred day moving average price of $145.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 312,193 shares of company stock worth $52,833,048. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp raised its position in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the period. Norges Bank purchased a new position in Snowflake in the 4th quarter worth $988,950,000. FMR LLC lifted its stake in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in Snowflake during the fourth quarter valued at about $750,572,000. 65.10% of the stock is currently 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.