Snowflake (NYSE:SNOW) Receives “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $190.00 price objective on the stock.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Loop Capital dropped their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Robert W. Baird dropped their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, Argus initiated coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. Two 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.09.

Snowflake Stock Up 2.1 %

NYSE SNOW opened at $176.02 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 cap of $59.00 billion, a PE ratio of -51.92 and a beta of 1.03. The firm has a 50-day simple moving average of $128.62 and a 200 day simple moving average of $128.42.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of Snowflake 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 sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 264,278 shares of company stock worth $42,512,248 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of SNOW. EverSource Wealth Advisors LLC raised its holdings in shares of Snowflake by 30.3% in the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Snowflake in the second quarter valued at $41,000. Mather Group LLC. increased its stake in Snowflake by 223.6% in the 2nd quarter. Mather Group LLC. now owns 906 shares of the company’s stock valued at $122,000 after buying an additional 626 shares during the last quarter. Fulton Bank N.A. lifted its position in Snowflake by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after buying an additional 228 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Snowflake by 10.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,531 shares of the company’s stock worth $1,017,000 after buying an additional 727 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.