Snowflake (NYSE:SNOW) Stock Price Expected to Rise, Piper Sandler Analyst Says

Snowflake (NYSE:SNOW) had its price target lifted by equities researchers at Piper Sandler from $208.00 to $215.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 29.37% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Loop Capital increased their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. UBS Group increased their target price on shares of Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Scotiabank increased their target price on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, February 20th. Finally, Wells Fargo & Company increased their target price on shares of Snowflake from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $197.92.

Snowflake Stock Performance

SNOW opened at $166.20 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $54.86 billion, a price-to-earnings ratio of -49.03 and a beta of 1.07. Snowflake has a 52-week low of $107.13 and a 52-week high of $235.66. The firm’s fifty day simple moving average is $172.79 and its two-hundred day simple moving average is $144.94.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 59,617 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. The trade was a 22.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,810 shares of company stock valued at $63,340,544. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNOW. Groupama Asset Managment purchased a new position in Snowflake in the third quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new position in Snowflake in the fourth quarter worth approximately $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake during the fourth quarter worth approximately $31,000. Spurstone Advisory Services LLC acquired a new stake in Snowflake during the fourth quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors 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.