Snowflake (NYSE:SNOW) Stock Price Expected to Rise, UBS Group Analyst Says

Snowflake (NYSE:SNOW) had its target price hoisted by investment analysts at UBS Group from $155.00 to $190.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 1.42% from the stock’s previous close.

A number of other research analysts have also recently weighed in on SNOW. Scotiabank lifted their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Oppenheimer lifted their price objective on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Friday, January 10th. Mizuho lifted their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald started coverage on shares of Snowflake in a research report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.75.

Snowflake Trading Down 2.8 %

Shares of Snowflake stock opened at $187.35 on Wednesday. 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 firm has a fifty day moving average price of $172.08 and a 200 day moving average price of $142.71. Snowflake has a 1 year low of $107.13 and a 1 year high of $235.66. The stock has a market cap of $61.84 billion, a PE ratio of -55.30 and a beta of 1.07.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares in the company, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock valued at $88,283,752 in the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of SNOW. Norges Bank purchased a new stake in Snowflake in the 4th quarter valued at approximately $988,950,000. GQG Partners LLC acquired a new position in Snowflake in the 4th quarter valued at $750,572,000. Jennison Associates LLC raised its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. FMR LLC raised its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. 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.