Wedbush Boosts Snowflake (NYSE:SNOW) Price Target to $250.00

Snowflake (NYSE:SNOW) had its price objective hoisted by investment analysts at Wedbush from $230.00 to $250.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 4.74% from the company’s current price.

A number of other analysts have also issued reports on the company. Citigroup restated an “outperform” rating on shares of Snowflake in a report on Thursday. Sanford C. Bernstein raised their target price on Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a report on Thursday. Hsbc Global Res downgraded Snowflake from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 22nd. Loop Capital raised their price target on Snowflake from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, Oppenheimer reissued an “outperform” rating on shares of Snowflake in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $255.53.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $238.69 on Thursday. The firm has a market cap of $79.69 billion, a P/E ratio of -57.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a fifty day moving average price of $211.41 and a two-hundred day moving average price of $185.91. Snowflake has a 1 year low of $107.13 and a 1 year high of $249.99.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $208.69, for a total transaction of $84,102.07. Following the completion of the sale, the director owned 26,136 shares in the company, valued at approximately $5,454,321.84. The trade was a 1.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the company’s stock in a transaction on 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 sale, the director owned 165,507 shares of the company’s stock, valued at $38,144,398.29. The trade was a 81.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,226,909 shares of company stock worth $719,343,881. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH acquired a new position in Snowflake in the 2nd quarter worth $25,000. Avion Wealth boosted its stake in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the last quarter. Rossby Financial LCC lifted its stake in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares during the last quarter. Whittier Trust Co. lifted its stake in Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares during the last quarter. 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.