JMP Securities Reiterates “Market Outperform” Rating for Snowflake (NYSE:SNOW)

Snowflake (NYSE:SNOW)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $190.00 price objective on the stock. JMP Securities’ target price would suggest a potential upside of 1.85% from the stock’s current price.

Several other brokerages have also issued reports on SNOW. Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Scotiabank decreased their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Evercore ISI increased their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Barclays increased their price target on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Finally, Robert W. Baird decreased their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Price Performance

NYSE SNOW opened at $186.55 on Tuesday. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.88. The stock has a market capitalization of $62.53 billion, a PE ratio of -55.03 and a beta of 1.03. The stock has a 50-day simple moving average of $130.10 and a 200 day simple moving average of $128.82.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,278 shares of company stock valued at $45,125,233. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance lifted its stake in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Snowflake by 17.4% during the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after buying an additional 228 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Snowflake by 77.0% during the second quarter. SG Americas Securities LLC now owns 133,186 shares of the company’s stock worth $17,992,000 after buying an additional 57,960 shares during the last quarter. Mather Group LLC. grew its stake in shares of Snowflake by 223.6% during the second quarter. Mather Group LLC. now owns 906 shares of the company’s stock worth $122,000 after buying an additional 626 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Snowflake by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after purchasing an additional 36,704 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

About Snowflake

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.