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

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned a consensus rating of “Moderate Buy” from the forty-one research firms that are currently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $201.76.

A number of research analysts have commented on the company. Mizuho increased their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Daiwa America raised shares of Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Barclays increased their price objective on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus raised their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Loop Capital boosted their price target on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th.

Snowflake Stock Down 1.9 %

Shares of Snowflake stock opened at $143.34 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The business has a 50-day moving average of $159.07 and a 200-day moving average of $154.35. The company has a market capitalization of $47.32 billion, a PE ratio of -42.28 and a beta of 1.13.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,589 shares of company stock worth $82,405,796. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. increased its stake in Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock worth $1,438,000 after buying an additional 3,971 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Snowflake by 50.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock valued at $535,000 after buying an additional 1,559 shares in the last quarter. Blankinship & Foster LLC purchased a new position in shares of Snowflake during the 3rd quarter worth about $896,000. Synovus Financial Corp grew its holdings in shares of Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after purchasing an additional 1,352 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares in the last quarter. Hedge funds and other 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.