Truist Financial Cuts Snowflake (NYSE:SNOW) Price Target to $210.00

Snowflake (NYSE:SNOW - Free Report) had its target price decreased by Truist Financial from $225.00 to $210.00 in a report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Wolfe Research raised Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 target price on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald upped their target price on shares of Snowflake from $201.00 to $228.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Loop Capital raised their target price on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Piper Sandler boosted their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.05.

Remove Ads

Snowflake Price Performance

SNOW stock traded down $14.28 during trading on Monday, reaching $139.63. The company's stock had a trading volume of 7,940,386 shares, compared to its average volume of 5,831,319. 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's fifty day moving average is $170.55 and its 200-day moving average is $152.08. The company has a market capitalization of $46.09 billion, a P/E ratio of -41.19 and a beta of 1.07. Snowflake has a 1 year low of $107.13 and a 1 year high of $194.40.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock valued at $82,353,709 over the last 90 days. Corporate insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently made changes to their positions in the business. Groupama Asset Managment acquired a new stake in shares of Snowflake in the 3rd quarter worth $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the fourth quarter worth about $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at approximately $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

About Snowflake

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.