Snowflake (SNOW): New Buy Recommendation for This Technology Giant

Snowflake (SNOWResearch Report) received a Buy rating and a $240.00 price target from Needham analyst Mike Cikos today. The company’s shares closed yesterday at $196.49.

Cikos covers the Technology sector, focusing on stocks such as Alteryx, New Relic, and Nutanix. According to TipRanks, Cikos has an average return of -6.0% and a 28.05% success rate on recommended stocks.

Currently, the analyst consensus on Snowflake is a Moderate Buy with an average price target of $206.36, which is a 5.02% upside from current levels. In a report released on September 14, Goldman Sachs also reiterated a Buy rating on the stock with a $220.00 price target.

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The company has a one-year high of $405.00 and a one-year low of $110.27. Currently, Snowflake has an average volume of 7.12M.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNOW in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2012, Snowflake Inc. is a cloud-based company which provides a data platform in the United States and internationally. The company’s platform enables customers to consolidate data into a single source to drive meaningful business insights, build data-driven applications, and share data.

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