Snowflake (NYSE:SNOW) Price Target Raised to $220.00 at Oppenheimer

Snowflake (NYSE:SNOW) had its price objective raised by Oppenheimer from $200.00 to $220.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also issued reports on SNOW. Wells Fargo & Company lifted their target price on Snowflake from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Needham & Company LLC increased their target price on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities increased their price target on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Truist Financial reissued a “buy” rating and set a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. Finally, Wedbush set a $210.00 price objective on Snowflake in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Price Performance

NYSE:SNOW opened at $176.76 on Thursday. The firm has a market cap of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07. Snowflake has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average is $173.19 and its two-hundred day moving average is $145.64.

Insider Buying and Selling

In related news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,528,625. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,193 shares of company stock worth $52,833,048 in the last quarter. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Groupama Asset Managment acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake during the 4th quarter worth about $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Institutional investors and hedge funds 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.