Snowflake (NYSE:SNOW - Get Free Report) had its price target hoisted by analysts at JPMorgan Chase & Co. from $210.00 to $225.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 15.27% from the company's current price.
Other research analysts also recently issued reports about the company. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Piper Sandler restated an "overweight" rating and set a $215.00 target price (up previously from $175.00) on shares of Snowflake in a research note on Wednesday. JMP Securities reissued a "market outperform" rating and issued a $201.00 price target on shares of Snowflake in a report on Tuesday. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a research note on Thursday, February 20th. Finally, Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.33.
Read Our Latest Research Report on Snowflake
Snowflake Stock Performance
Shares of Snowflake stock traded up $16.07 during trading on Thursday, hitting $195.19. 7,905,946 shares of the stock were exchanged, compared to its average volume of 5,315,473. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $157.35 and a 200-day moving average price of $162.37. The stock has a market capitalization of $64.43 billion, a price-to-earnings ratio of -57.58 and a beta of 1.11. Snowflake has a 1-year low of $107.13 and a 1-year high of $199.50.
Insider Buying and Selling
In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the sale, the director now directly owns 25,972 shares of the company's stock, valued at $4,363,555.72. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now owns 594,975 shares of the company's stock, valued at $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by company insiders.
Institutional Trading of Snowflake
A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Merit Financial Group LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at about $493,000. HB Wealth Management LLC purchased a new position in Snowflake in the 4th quarter worth approximately $397,000. Harbor Investment Advisory LLC increased its holdings in shares of Snowflake by 85.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 435 shares of the company's stock worth $67,000 after buying an additional 200 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at $208,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Snowflake by 34.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 19,462 shares of the company's stock worth $3,005,000 after purchasing an additional 5,022 shares during the last quarter. Institutional investors own 65.10% of the company's stock.
About Snowflake
(
Get Free Report)
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.
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