Snowflake (NYSE:SNOW) Coverage Initiated by Analysts at Daiwa Capital Markets

Equities researchers at Daiwa Capital Markets initiated coverage on shares of Snowflake (NYSE:SNOW) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $210.00 price target on the stock. Daiwa Capital Markets’ price target indicates a potential upside of 36.16% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler boosted their price objective on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Mizuho boosted 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. Citigroup raised their price objective on Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a report on Tuesday, February 18th. Finally, Monness Crespi & Hardt raised their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $203.05.

Snowflake Trading Up 3.1 %

NYSE SNOW opened at $154.23 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $170.55 and its two-hundred day simple moving average is $152.08. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a market capitalization of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,186 shares of company stock worth $82,353,709. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its holdings in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC purchased a new position in shares of Snowflake during the 4th quarter valued at about $288,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the period. Bourgeon Capital Management LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $5,851,000. Finally, Stephens Consulting LLC increased its holdings in Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after acquiring an additional 2,000 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.