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Snowflake (NYSE:SNOW – Get Free Report) had its price target lifted by analysts at Wedbush from $230.00 to $250.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 4.74% from the company’s previous close.
SNOW has been the topic of a number of other research reports. Monness Crespi & Hardt raised their target price on shares of Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Snowflake from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, May 22nd. Finally, Cowen reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.53.
Read Our Latest Report on SNOW
Snowflake Stock Performance
NYSE SNOW opened at $238.69 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $79.69 billion, a price-to-earnings ratio of -57.51 and a beta of 1.22. The firm’s 50 day simple moving average is $211.41 and its 200 day simple moving average is $185.91. Snowflake has a 1 year low of $107.13 and a 1 year high of $249.99.
Insider Activity at Snowflake
In other news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $208.69, for a total transaction of $84,102.07. Following the sale, the director owned 26,136 shares in the company, valued at approximately $5,454,321.84. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total transaction of $249,530.04. Following the completion of the transaction, the director owned 4,474 shares in the company, valued at approximately $974,168.76. The trade was a 20.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,226,909 shares of company stock worth $719,343,881. Corporate insiders own 6.80% of the company’s stock.
Institutional Investors Weigh In On Snowflake
A number of large investors have recently added to or reduced their stakes in the company. Capital Advantage Inc. grew its holdings in Snowflake by 1.1% in the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after acquiring an additional 48 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Snowflake by 1.3% during the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after acquiring an additional 48 shares in the last quarter. Avion Wealth boosted its stake in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of Snowflake by 1.3% in the second quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock worth $896,000 after buying an additional 52 shares in the last quarter. Finally, Advyzon Investment Management LLC lifted its stake in shares of Snowflake by 3.8% in the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock worth $340,000 after buying an additional 55 shares in the last quarter. 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.
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