UBS Group Boosts Snowflake (NYSE:SNOW) Price Target to $285.00

Key Points

• UBS Group has raised its price target for Snowflake (NYSE:SNOW) from $250.00 to $285.00, indicating a potential upside of 22.71%.
• Multiple brokerages have updated their price targets for Snowflake, with estimates ranging from $210.00 to $260.00, reflecting varied outlooks on the stock's performance.
• Insiders have sold over 2.5 million shares of Snowflake stock in recent months, yet institutional investors continue to hold a significant 65.10% of the company's stock.

Snowflake (NYSE:SNOW - Get Free Report) had its price target lifted by stock analysts at UBS Group from $250.00 to $285.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's target price points to a potential upside of 22.71% from the stock's current price.

Several other brokerages have also issued reports on SNOW. Macquarie increased their price objective on Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Wedbush increased their price objective on Snowflake from $230.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday. Monness Crespi & Hardt increased their price objective on Snowflake from $245.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday. Mizuho increased their target price on shares of Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Robert W. Baird increased their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $245.30.

Snowflake Price Performance

SNOW opened at $232.26 on Thursday. The stock has a fifty day moving average of $210.30 and a 200-day moving average of $185.15. The firm has a market capitalization of $77.54 billion, a P/E ratio of -55.13 and a beta of 1.22. Snowflake has a 12-month low of $107.13 and a 12-month high of $229.27. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $84,102.07. Following the sale, the director directly owned 26,136 shares in the company, valued at $5,454,321.84. The trade was a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $216.00, for a total value of $2,160,000.00. Following the completion of the sale, the executive vice president owned 537,336 shares of the company's stock, valued at $116,064,576. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,516,826 shares of company stock valued at $555,691,052 over the last 90 days. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock valued at $524,293,000 after purchasing an additional 650,775 shares during the period. CenterBook Partners LP acquired a new position in Snowflake during the 1st quarter valued at approximately $2,381,000. Berkshire Capital Holdings Inc. boosted its position in Snowflake by 71,500.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock worth $1,047,000 after acquiring an additional 7,150 shares during the period. Lyell Wealth Management LP boosted its position in Snowflake by 5.1% during the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock worth $8,870,000 after acquiring an additional 2,955 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in Snowflake during the 1st quarter worth $898,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Company Profile

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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