Snowflake (NYSE:SNOW) Price Target Raised to $405.00 at Cantor Fitzgerald

Snowflake (NYSE:SNOW) had its price target increased by research analysts at Cantor Fitzgerald from $282.00 to $405.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 23.82% from the stock’s previous close.

Several other equities analysts have also weighed in on SNOW. Wedbush increased their target price on Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Citizens Jmp boosted their target price on Snowflake from $325.00 to $408.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group upped their price target on Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Bank of America increased their price target on shares of Snowflake from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Needham & Company LLC lifted their price objective on shares of Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $331.46.

Snowflake Stock Down 0.3%

NYSE:SNOW opened at $327.08 on Monday. Snowflake has a 12-month low of $118.30 and a 12-month high of $341.95. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $113.37 billion, a P/E ratio of -92.92 and a beta of 1.33. The stock’s fifty day simple moving average is $287.74 and its 200-day simple moving average is $215.28.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $324.06, for a total transaction of $130,596.18. Following the transaction, the director owned 22,573 shares in the company, valued at $7,315,006.38. The trade was a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 48,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $320.78, for a total value of $15,715,012.20. Following the completion of the transaction, the director owned 28,535 shares of the company’s stock, valued at $9,153,457.30. This represents a 63.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,156,901 shares of company stock worth $321,725,352 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. bought a new position in Snowflake during the 4th quarter worth about $28,000. Greenline Wealth Management LLC acquired a new stake in Snowflake during the fourth quarter worth approximately $29,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Snowflake by 140.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after purchasing an additional 118 shares in the last quarter. Emerald Advisers LLC increased its position in shares of Snowflake by 95.2% in the first quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Finally, MV Capital Management Inc. bought a new position in shares of Snowflake in the fourth quarter worth $32,000. Institutional investors own 65.10% of the company’s stock.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.