Evercore ISI Increases Snowflake (NYSE:SNOW) Price Target to $200.00

Snowflake (NYSE:SNOW - Free Report) had its price target raised by Evercore ISI from $190.00 to $200.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com cut Snowflake from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Bank of America boosted their price objective on Snowflake from $160.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. Wells Fargo & Company upgraded shares of Snowflake from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. JMP Securities reiterated a "market outperform" rating and issued a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $187.63.

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Snowflake Stock Performance

Shares of NYSE:SNOW traded down $4.80 during trading on Wednesday, reaching $187.86. 5,806,291 shares of the stock were exchanged, compared to its average volume of 5,077,484. Snowflake has a 12 month low of $107.13 and a 12 month high of $236.33. The firm has a market cap of $62.01 billion, a PE ratio of -55.42 and a beta of 1.07. The stock has a 50-day moving average price of $171.51 and a 200-day moving average price of $141.58. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the company's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the sale, the chief accounting officer now owns 44,760 shares of the company's stock, valued at approximately $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock valued at $88,283,752 over the last 90 days. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the business. Groupama Asset Managment purchased a new stake in Snowflake in the 3rd quarter valued at about $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter valued at about $29,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the 3rd quarter valued at about $30,000. West Paces Advisors Inc. purchased a new stake in Snowflake in the 4th quarter valued at about $31,000. Finally, Quadrant Capital Group LLC increased its stake in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the last quarter. 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.