Snowflake (NYSE:SNOW) Given New $242.00 Price Target at Cantor Fitzgerald

Snowflake (NYSE:SNOW - Get Free Report) had its price target raised by research analysts at Cantor Fitzgerald from $183.00 to $242.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's target price indicates a potential upside of 23.98% from the stock's previous close.

Other analysts also recently issued reports about the stock. Citigroup raised their target price on shares of Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Mizuho set a $205.00 target price on Snowflake in a report on Wednesday. Piper Sandler restated an "overweight" rating and issued a $215.00 price target (up from $175.00) on shares of Snowflake in a report on Wednesday. Needham & Company LLC upped their price target on Snowflake from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $208.33.

Snowflake Trading Up 9.0%

NYSE:SNOW traded up $16.07 on Thursday, reaching $195.19. The company's stock had a trading volume of 7,905,946 shares, compared to its average volume of 5,315,473. Snowflake has a 1-year low of $107.13 and a 1-year high of $199.50. The business's 50-day moving average price is $157.35 and its two-hundred day moving average price is $162.37. The firm has a market cap of $64.43 billion, a PE ratio of -57.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was 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 approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 356,963 shares of company stock worth $58,204,058. Corporate insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SNOW. Geneos Wealth Management Inc. boosted its stake in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. IFM Investors Pty Ltd boosted its position in Snowflake by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 54,020 shares of the company's stock valued at $7,896,000 after buying an additional 274 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock worth $1,637,000 after buying an additional 2,167 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Snowflake by 0.5% during the first quarter. Focus Partners Wealth now owns 99,545 shares of the company's stock worth $14,550,000 after buying an additional 460 shares in the last quarter. Finally, Integrity Alliance LLC. acquired a new position in shares of Snowflake during the first quarter worth $646,000. 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.

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