Snowflake (NYSE:SNOW) Given New $200.00 Price Target at Evercore ISI

Snowflake (NYSE:SNOW) had its target price upped by Evercore ISI from $190.00 to $200.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC upped their target price on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup dropped their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. JMP Securities reissued a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Jefferies Financial Group lifted their price objective on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Loop Capital boosted their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.63.

Snowflake Trading Up 2.2 %

Snowflake stock opened at $187.56 on Wednesday. Snowflake has a 1 year low of $107.13 and a 1 year high of $236.33. The firm’s 50-day moving average is $171.21 and its 200-day moving average is $140.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $61.91 billion, a P/E ratio of -55.33 and a beta of 1.07.

Insiders Place Their Bets

In other news, 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 transaction of $99,882.00. Following the completion of the sale, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. The trade was a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Jennison Associates LLC boosted its holdings in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. State Street Corp grew its position in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Norges Bank bought a new position in shares of Snowflake in the fourth quarter worth about $988,950,000. GQG Partners LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $750,572,000. Finally, Geode Capital Management LLC boosted its stake in Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock valued at $642,742,000 after purchasing an additional 15,314 shares during the period. 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.