Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Loop Capital Analyst Says

Snowflake (NYSE:SNOW) had its price objective hoisted by Loop Capital from $205.00 to $215.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 23.34% from the stock’s current price.

Other research analysts have also issued reports about the stock. KeyCorp raised their price target on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday. Cantor Fitzgerald boosted their price objective on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup raised their target price on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased their price target on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Evercore ISI boosted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Trading Up 4.9 %

Shares of SNOW stock traded up $8.13 during mid-day trading on Thursday, hitting $174.32. The company’s stock had a trading volume of 17,852,400 shares, compared to its average volume of 5,783,613. Snowflake has a 52 week low of $107.13 and a 52 week high of $233.88. 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’s fifty day simple moving average is $172.79 and its 200-day simple moving average is $144.94. The company has a market cap of $57.54 billion, a PE ratio of -51.71 and a beta of 1.07.

Insider Activity

In related news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92. Following the sale, the executive now owns 323,731 shares of the company’s stock, valued at $56,348,617.86. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,528,625. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 371,810 shares of company stock valued at $63,340,544. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $288,000. Independent Advisor Alliance boosted its holdings in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after buying an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake in the fourth quarter valued at $5,851,000. 65.10% of the stock is owned by hedge funds and other 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.