Snowflake (NYSE:SNOW) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Snowflake (NYSE:SNOW) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a report released on Thursday, MarketBeat Ratings reports. The brokerage presently has a $201.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 17.62% from the company’s current price.

A number of other analysts have also recently weighed in on SNOW. Bank of America upped their price target on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. DA Davidson reaffirmed a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Oppenheimer lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Jefferies Financial Group upped their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Wedbush cut shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Up 1.9 %

Shares of SNOW opened at $170.89 on Thursday. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The stock 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 50-day moving average price of $160.11 and a two-hundred day moving average price of $134.83. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Transactions at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the transaction, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This represents a 3.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock valued at $62,545,855 over the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Dimensional Fund Advisors LP grew its stake in shares of Snowflake by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after buying an additional 56,027 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Snowflake by 3.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,865 shares of the company’s stock valued at $792,000 after acquiring an additional 180 shares during the period. Amalgamated Bank increased its stake in shares of Snowflake by 1.1% during the 2nd quarter. Amalgamated Bank now owns 21,368 shares of the company’s stock worth $2,887,000 after purchasing an additional 241 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Snowflake by 2.3% in the 2nd quarter. Blair William & Co. IL now owns 39,095 shares of the company’s stock valued at $5,281,000 after purchasing an additional 889 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Snowflake by 2.8% in the 2nd quarter. Intech Investment Management LLC now owns 18,922 shares of the company’s stock valued at $2,556,000 after purchasing an additional 522 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.