Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Snowflake (NYSE:SNOW - Get Free Report) had its price objective increased by equities research analysts at Stifel Nicolaus from $210.00 to $220.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 12.71% from the company's current price.

A number of other research analysts have also issued reports on the company. Barclays boosted their price target on Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. The Goldman Sachs Group set a $205.00 target price on shares of Snowflake and gave the company a "buy" rating in a research note on Monday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 price target on shares of Snowflake in a research note on Monday. Canaccord Genuity Group increased their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Daiwa Capital Markets assumed coverage on Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.33.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $16.07 during trading hours on Thursday, hitting $195.19. The stock had a trading volume of 7,905,946 shares, compared to its average volume of 5,315,473. The stock's fifty day simple moving average is $157.35 and its 200 day simple moving average is $162.37. The firm has a market capitalization of $64.43 billion, a price-to-earnings 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. Snowflake has a 1-year low of $107.13 and a 1-year high of $199.50.

Insiders Place Their Bets

In related news, CFO Michael Scarpelli sold 300,000 shares of the 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 owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares in the company, 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. Insiders have sold 356,963 shares of company stock worth $58,204,058 in the last ninety days. Insiders own 7.80% of the company's stock.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new stake in Snowflake in the first quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the fourth quarter valued at $29,000. CVA Family Office LLC grew its holdings in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the last quarter. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the 4th quarter worth about $31,000. Finally, Spurstone Advisory Services LLC acquired a new position in Snowflake in the fourth quarter valued at about $31,000. Institutional investors 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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