Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Snowflake (NYSE:SNOW) had its price target increased by research analysts at Cantor Fitzgerald from $201.00 to $228.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 28.99% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SNOW. Oppenheimer increased their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America lifted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of Snowflake from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. KeyCorp raised their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Jefferies Financial Group boosted their price objective on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Stock Up 1.8 %

SNOW stock opened at $176.76 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock’s 50 day simple moving average is $173.19 and its 200 day simple moving average is $145.51. The company has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 312,193 shares of company stock valued at $52,833,048. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNOW. Groupama Asset Managment bought a new position in shares of Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC purchased a new position in Snowflake during the fourth quarter worth about $29,000. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. 65.10% of the stock is owned by institutional investors.

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.