Snowflake (NYSE:SNOW) Rating Increased to Strong-Buy at Cantor Fitzgerald

Snowflake (NYSE:SNOW - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a research note issued on Thursday, Marketbeat reports. The brokerage currently has a $201.00 price target on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 17.62% from the stock's previous close.

Several other research firms also recently commented on SNOW. DA Davidson reaffirmed a "buy" rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. UBS Group reduced their price target on Snowflake from $155.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, September 24th. Barclays raised Snowflake from an "equal weight" rating to an "overweight" rating and set a $190.00 price objective on the stock in a report on Friday, January 10th. Truist Financial reaffirmed a "buy" rating and set a $210.00 target price on shares of Snowflake in a report on Thursday, November 21st. Finally, Mizuho increased their price target on shares of Snowflake from $165.00 to $195.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $188.06.

Snowflake Stock Performance

NYSE:SNOW traded up $3.25 on Thursday, reaching $170.89. 4,156,568 shares of the company's stock were exchanged, compared to its average volume of 3,873,271. The firm has a market cap of $56.41 billion, a price-to-earnings ratio of -50.41 and a beta of 1.05. 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 stock has a fifty day simple moving average of $161.11 and a 200-day simple moving average of $135.02. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Insider Activity

In other news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company's stock, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares of the company's stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,904 shares of company stock valued at $62,545,855. Insiders own 7.80% of the company's stock.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of SNOW. Groupama Asset Managment purchased a new position in shares of Snowflake in the third quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in Snowflake in the 3rd quarter worth about $30,000. Fortitude Family Office LLC purchased a new position in Snowflake in the 3rd quarter worth about $34,000. Perkins Coie Trust Co lifted its stake in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after acquiring an additional 139 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company's stock valued at $39,000 after acquiring an additional 152 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

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.