Snowflake (NYSE:SNOW) Price Target Cut to $210.00 by Analysts at Truist Financial

Snowflake (NYSE:SNOW) had its target price reduced by investment analysts at Truist Financial from $225.00 to $210.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 39.44% from the company’s previous close.

Other research analysts also recently issued reports about the company. Citigroup upped their price target on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Royal Bank of Canada increased their target price on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Barclays boosted their price target on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald lifted their price objective on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $204.67.

Snowflake Trading Down 4.1 %

SNOW opened at $150.60 on Monday. The company has a fifty day moving average price of $171.99 and a two-hundred day moving average price of $151.58. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market cap of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 503,968 shares of company stock valued at $84,363,550 over the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SNOW. Groupama Asset Managment bought a new position in shares of Snowflake in the third quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $29,000. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter valued at $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Snowflake in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.