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

Snowflake Inc. (NYSE:SNOW) has received a consensus recommendation of “Moderate Buy” from the thirty-nine research firms that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, thirty have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $203.83.

Several equities research analysts recently commented on SNOW shares. Mizuho lifted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. UBS Group boosted their target price on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Needham & Company LLC raised their price target on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Piper Sandler boosted their price objective on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 7,908 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the completion of the sale, the executive vice president now directly owns 600,632 shares of the company’s stock, valued at $92,899,751.44. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 503,968 shares of company stock valued at $84,363,550. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new position in shares of Snowflake during the fourth quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC bought a new position in shares of Snowflake during the fourth quarter worth about $32,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

Shares of SNOW opened at $146.29 on Tuesday. The firm has a market capitalization of $48.29 billion, a price-to-earnings ratio of -43.15 and a beta of 1.07. The firm’s fifty day simple moving average is $171.49 and its 200-day simple moving average is $151.82. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.