Snowflake (NYSE:SNOW) Stock Price Expected to Rise, UBS Group Analyst Says

Snowflake (NYSE:SNOW) had its price objective boosted by investment analysts at UBS Group from $190.00 to $200.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 13.15% from the company’s current price.

Several other research analysts have also recently weighed in on SNOW. Wedbush set a $210.00 price target on shares of Snowflake in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. Stifel Nicolaus lifted their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research report on Tuesday, February 18th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Up 1.8 %

Shares of Snowflake stock opened at $176.76 on Thursday. The company’s fifty day simple moving average is $173.19 and its 200-day simple moving average is $145.51. The stock has a market capitalization of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insiders Place Their Bets

In related news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 312,193 shares of company stock valued at $52,833,048 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently made changes to their positions in the company. Groupama Asset Managment purchased a new stake in Snowflake in the 3rd quarter valued at about $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake in the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter valued at about $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.