Evercore ISI Boosts Snowflake (NYSE:SNOW) Price Target to $280.00

Snowflake (NYSE:SNOW) had its price target increased by analysts at Evercore ISI from $240.00 to $280.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 17.31% from the company’s current price.

Several other research analysts also recently commented on SNOW. Bank of America raised shares of Snowflake from a “neutral” rating to a “buy” rating and raised their price target for the company from $220.00 to $240.00 in a report on Wednesday, August 20th. Hsbc Global Res downgraded shares of Snowflake from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd. Cowen reaffirmed a “buy” rating on shares of Snowflake in a report on Thursday, May 22nd. Macquarie lifted their price objective on shares of Snowflake from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Finally, CICC Research initiated coverage on shares of Snowflake in a report on Friday, June 20th. They set an “outperform” rating and a $225.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $255.53.

Snowflake Stock Down 1.0%

Shares of NYSE:SNOW opened at $238.69 on Thursday. The firm has a fifty day moving average price of $211.41 and a two-hundred day moving average price of $185.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake has a one year low of $107.13 and a one year high of $249.99. The company has a market cap of $79.69 billion, a price-to-earnings ratio of -57.51 and a beta of 1.22.

Insider Activity

In related news, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director owned 165,507 shares in the company, valued at $38,144,398.29. The trade was a 81.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 3,226,909 shares of company stock valued at $719,343,881 in the last 90 days. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Trust Co. of Toledo NA OH bought a new stake in Snowflake during the second quarter worth about $25,000. Avion Wealth lifted its stake in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter worth approximately $26,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after buying an additional 88 shares in the last quarter. Finally, Rossby Financial LCC lifted its stake in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.