Snowflake (NYSE:SNOW) Given New $228.00 Price Target at Cantor Fitzgerald

Snowflake (NYSE:SNOW) had its price objective upped by Cantor Fitzgerald from $201.00 to $228.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Loop Capital increased their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Evercore ISI increased their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. UBS Group raised their price target on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday. Finally, Royal Bank of Canada raised their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Price Performance

NYSE:SNOW opened at $173.78 on Thursday. The stock has a 50 day moving average of $172.98 and a two-hundred day moving average of $145.14. Snowflake has a 12 month low of $107.13 and a 12 month high of $233.88. The firm has a market cap of $57.36 billion, a P/E ratio of -51.26 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the 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 approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction 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 transaction, the executive now owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock worth $52,833,048 in the last ninety days. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

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