Citigroup Raises Snowflake (NYSE:SNOW) Price Target to $230.00

Snowflake (NYSE:SNOW) had its price target lifted by equities research analysts at Citigroup from $225.00 to $230.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 38.39% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada boosted their price target on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. Finally, Oppenheimer boosted their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.19.

Snowflake Price Performance

NYSE:SNOW opened at $166.20 on Tuesday. The firm has a market cap of $54.86 billion, a PE ratio of -49.03 and a beta of 1.07. Snowflake has a 12 month low of $107.13 and a 12 month high of $235.66. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $172.79 and its two-hundred day moving average price is $144.94.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 371,810 shares of company stock worth $63,340,544 over the last quarter. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC boosted its holdings in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the last quarter. Quarry LP boosted its holdings in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after purchasing an additional 59 shares during the last quarter. Breakwater Capital Group boosted its holdings in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after purchasing an additional 62 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after purchasing an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds 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.