Cantor Fitzgerald Upgrades Snowflake (NYSE:SNOW) to Strong-Buy

Cantor Fitzgerald upgraded shares of Snowflake (NYSE:SNOW) to a strong-buy rating in a research report released on Thursday morning, Marketbeat Ratings reports. They currently have $201.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Mizuho lifted their price objective on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. TD Cowen upped their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Monness Crespi & Hardt raised their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Stock Performance

Shares of SNOW opened at $170.89 on Thursday. Snowflake has a one year low of $107.13 and a one year high of $237.72. The company has a 50-day moving average of $160.11 and a two-hundred day moving average of $134.83. 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 stock has a market cap of $56.41 billion, a price-to-earnings ratio of -50.41 and a beta of 1.05.

Insider Transactions at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares in the company, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 376,904 shares of company stock worth $62,545,855. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares in the last quarter. Independent Advisor Alliance raised its position in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares in the last quarter. Franklin Resources Inc. lifted its stake in Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after purchasing an additional 7,373 shares during the period. Diversified Trust Co lifted its stake in Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock worth $758,000 after purchasing an additional 3,121 shares during the period. Finally, Kraematon Investment Advisors Inc. bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $240,000. 65.10% of the stock is owned by 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.