Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Piper Sandler Analyst Says

Snowflake (NYSE:SNOW) had its price objective lifted by Piper Sandler from $208.00 to $215.00 in a report published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. Scotiabank upped their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Rosenblatt Securities raised their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group increased their target price on shares of 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 issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Trading Up 4.6 %

NYSE SNOW opened at $173.78 on Thursday. The firm has a market cap of $57.36 billion, a PE ratio of -51.26 and a beta of 1.07. Snowflake has a 1-year low of $107.13 and a 1-year high of $233.88. The stock has a 50-day moving average of $172.98 and a 200-day moving average of $145.14. 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 Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’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 transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the transaction, the executive now owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,193 shares of company stock valued at $52,833,048 in the last quarter. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently modified their holdings of the business. Groupama Asset Managment bought a new position in Snowflake during the 3rd quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the fourth quarter worth approximately $29,000. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake during the fourth quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter worth approximately $31,000. 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.