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

Snowflake (NYSE:SNOW) had its target price hoisted by Barclays from $190.00 to $203.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages also recently commented on SNOW. Evercore ISI increased their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler raised their price objective on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup lifted their target price on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America increased their price target on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald assumed coverage on shares of Snowflake in a research note on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective for the company. One research 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 stock. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

Snowflake stock opened at $173.78 on Thursday. Snowflake has a 52-week low of $107.13 and a 52-week high of $233.88. 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 firm’s fifty day moving average is $172.98 and its 200 day moving average is $145.14. The company has a market cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07.

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 2,218 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total value of $388,150.00. Following the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,528,625. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,193 shares of company stock worth $52,833,048 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SNOW. Norges Bank acquired a new stake in Snowflake in the fourth quarter valued at approximately $988,950,000. GQG Partners LLC acquired a new position in shares of Snowflake during the fourth quarter worth $750,572,000. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. FMR LLC boosted its position in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its stake in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.