UBS Group Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price objective lifted by investment analysts at UBS Group from $155.00 to $190.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 2.51% from the company’s current price.

SNOW has been the subject of several other reports. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research report on Tuesday. Scotiabank upped their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Oppenheimer upped their price target on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Loop Capital upped their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Evercore ISI upped their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.08.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $185.35 on Wednesday. The company has a market cap of $61.18 billion, a price-to-earnings ratio of -54.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a 50 day simple moving average of $172.68 and a 200 day simple moving average of $143.31. Snowflake has a one year low of $107.13 and a one year high of $235.66.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 394,345 shares of company stock valued at $67,286,835. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the fourth quarter valued at about $29,000. West Paces Advisors Inc. bought a new position in shares of Snowflake during the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake during the fourth quarter valued at about $31,000. Colonial Trust Co SC bought a new position in shares of Snowflake during the fourth quarter valued at about $33,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. 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.