Snowflake Inc. (NYSE:SNOW) Receives Consensus Rating of “Moderate Buy” from Analysts

Snowflake Inc. (NYSE:SNOW) has earned an average recommendation of “Moderate Buy” from the thirty-nine research firms that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $205.08.

SNOW has been the topic of several recent research reports. KeyCorp upped their price objective on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $225.00 price target (up from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Barclays increased their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 20th.

Snowflake Stock Performance

NYSE SNOW opened at $163.36 on Tuesday. The firm has a market capitalization of $53.93 billion, a P/E ratio of -48.19 and a beta of 1.07. The stock has a 50-day simple moving average of $172.76 and a two-hundred day simple moving average of $150.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 7,908 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the completion of the transaction, the executive vice president now owns 600,632 shares of the company’s stock, valued at approximately $92,899,751.44. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,968 shares of company stock worth $50,900,550 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Groupama Asset Managment acquired a new position in Snowflake during the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the 4th quarter worth $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake in the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in Snowflake in the fourth quarter valued at $31,000. 65.10% of the stock is currently 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.