Snowflake (NYSE:SNOW) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $201.00 price objective on the stock.

Several other research firms also recently weighed in on SNOW. UBS Group lowered their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Citigroup decreased their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Scotiabank raised their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. JMP Securities reissued a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Finally, Piper Sandler raised their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Trading Up 1.9 %

Shares of Snowflake stock opened at $170.89 on Friday. The stock has a market capitalization of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The stock has a 50 day moving average price of $161.11 and a two-hundred day moving average price of $134.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the sale, the chief accounting officer now directly owns 44,760 shares in the company, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank grew its stake in Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares during the last quarter. Franklin Resources Inc. grew its position in Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after acquiring an additional 7,373 shares in the last quarter. Westend Capital Management LLC bought a new position in Snowflake in the fourth quarter valued at $10,550,000. Finally, Diversified Trust Co raised its position in Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock valued at $758,000 after purchasing an additional 3,121 shares in 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.