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Piper Sandler Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake logo with Computer and Technology background

Snowflake (NYSE:SNOW - Get Free Report) had its target price lifted by equities researchers at Piper Sandler from $185.00 to $208.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price target would indicate a potential upside of 27.42% from the company's previous close.

A number of other brokerages also recently weighed in on SNOW. StockNews.com downgraded Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, November 28th. Oppenheimer reiterated an "outperform" rating and set a $180.00 target price on shares of Snowflake in a research note on Thursday, November 21st. UBS Group reduced their price target on shares of Snowflake from $155.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 24th. TD Cowen boosted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Finally, KeyCorp raised their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $185.69.

Read Our Latest Analysis on Snowflake

Snowflake Stock Up 0.6 %

NYSE:SNOW traded up $1.02 during mid-day trading on Monday, reaching $163.24. The stock had a trading volume of 4,123,149 shares, compared to its average volume of 3,645,459. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $53.89 billion, a price-to-earnings ratio of -48.15 and a beta of 1.05. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The stock's 50 day simple moving average is $152.90 and its two-hundred day simple moving average is $133.00.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the transaction, the executive vice president now directly owns 721,755 shares of the company's stock, valued at $86,610,600. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the sale, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 406,904 shares of company stock worth $66,145,855. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its position in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock worth $464,402,000 after purchasing an additional 881,700 shares during the period. AQR Capital Management LLC grew its position in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company's stock valued at $131,656,000 after purchasing an additional 660,168 shares in the last quarter. SG Americas Securities LLC increased its stake in Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company's stock valued at $87,489,000 after buying an additional 628,511 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company's stock worth $170,938,000 after buying an additional 600,469 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Company Profile

(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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