Monness Crespi & Hardt Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price objective increased by investment analysts at Monness Crespi & Hardt from $188.00 to $230.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Monness Crespi & Hardt’s price target suggests a potential upside of 30.12% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Scotiabank boosted their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. KeyCorp increased their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Cantor Fitzgerald initiated coverage on Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target for the company. Loop Capital upped their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Truist Financial reissued a “buy” rating and issued a $210.00 target price on shares of Snowflake in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Price Performance

Snowflake stock opened at $176.76 on Thursday. 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 business has a 50 day simple moving average of $173.19 and a 200-day simple moving average of $145.51. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The stock has a market capitalization of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares in the company, valued at $7,303,489.20. The trade was a 3.26 % 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 over the last quarter. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Snowflake by 73.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after buying an additional 335 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in Snowflake during the 3rd quarter worth $231,000. Fortitude Family Office LLC bought a new position in shares of Snowflake in the third quarter worth $34,000. Ayalon Insurance Comp Ltd. increased its holdings in shares of Snowflake by 30.1% during the third quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock valued at $2,246,000 after purchasing an additional 4,522 shares during the period. Finally, AM Investment Strategies LLC bought a new stake in shares of Snowflake during the third quarter valued at about $233,000. 65.10% of the stock is 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.