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

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned an average recommendation of “Moderate Buy” from the thirty-eight research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, twenty-seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $187.06.

Several research analysts recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $210.00 price target on shares of Snowflake in a research report on Thursday, November 21st. Piper Sandler raised their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Evercore ISI increased their price objective on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st.

Snowflake Trading Up 1.3 %

NYSE SNOW opened at $181.66 on Monday. The company’s 50-day simple moving average is $169.48 and its two-hundred day simple moving average is $137.70. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $59.97 billion, a price-to-earnings ratio of -53.59 and a beta of 1.05. Snowflake has a one year low of $107.13 and a one year high of $237.72.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 504,151 shares of company stock valued at $84,973,139. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its position in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Prospect Financial Services LLC bought a new position in shares of Snowflake during the fourth quarter worth $288,000. Independent Advisor Alliance grew its stake in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares in the last quarter. Bourgeon Capital Management LLC purchased a new stake in Snowflake in the 4th quarter worth $5,851,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

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.