Loop Capital Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW - Get Free Report) had its price objective increased by research analysts at Loop Capital from $205.00 to $215.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Loop Capital's price target points to a potential upside of 23.70% from the stock's previous close.

Other analysts also recently issued reports about the company. Bank of America increased their price target on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Oppenheimer lifted their target price on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday. KeyCorp increased their price target on Snowflake from $210.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday. 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 note on Friday, February 21st. Finally, Wells Fargo & Company increased their target price on shares of Snowflake from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.92.

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Snowflake Trading Down 1.9 %

Shares of SNOW traded down $3.29 during trading hours on Thursday, hitting $173.81. 5,956,853 shares of the stock were exchanged, compared to its average volume of 5,945,681. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The business has a 50-day moving average of $173.43 and a 200-day moving average of $146.10. The firm has a market capitalization of $57.37 billion, a P/E ratio of -51.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was 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 $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 1,712 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $306,448.00. Following the transaction, the director now directly owns 205,965 shares in the company, valued at $36,867,735. This represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 299,411 shares of company stock worth $50,608,213 over the last three months. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. Stonebridge Financial Group LLC purchased a new position in Snowflake in the 4th quarter valued at approximately $29,000. West Paces Advisors Inc. bought a new position in shares of Snowflake in the fourth quarter worth $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the fourth quarter valued at $31,000. Capital A Wealth Management LLC purchased a new position in shares of Snowflake in the fourth quarter valued at $31,000. Finally, Carolinas Wealth Consulting LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $32,000. 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.