Snowflake Inc. (NYSE:SNOW) Given Average Rating of "Moderate Buy" by Analysts

Shares of Snowflake Inc. (NYSE:SNOW - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirty-eight brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $183.89.

A number of analysts have weighed in on SNOW shares. Evercore ISI raised their target price on shares of Snowflake from $170.00 to $190.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. StockNews.com lowered shares of Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, November 28th. Citigroup reduced their price objective on Snowflake from $200.00 to $183.00 and set a "buy" rating for the company in a research note on Monday, November 18th. DA Davidson reissued a "buy" rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Finally, HSBC upgraded shares of Snowflake from a "reduce" rating to a "hold" rating and upped their target price for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd.

Snowflake Stock Down 1.4 %

Shares of NYSE SNOW traded down $2.33 during trading hours on Friday, hitting $167.67. 5,516,920 shares of the stock were exchanged, compared to its average volume of 10,084,487. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The company's fifty day simple moving average is $138.94 and its two-hundred day simple moving average is $129.66.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 861 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $95,924.01. Following the transaction, the executive vice president now owns 751,755 shares of the company's stock, valued at approximately $83,753,024.55. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benoit Dageville sold 1,946 shares of the firm's stock in a transaction that occurred on 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 owns 53,820 shares in the company, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 294,384 shares of company stock worth $47,993,609 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. LRI Investments LLC raised its stake in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company's stock worth $25,000 after buying an additional 112 shares in the last quarter. Groupama Asset Managment bought a new position in shares of Snowflake in the 3rd quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake during the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC purchased a new stake in Snowflake in the third quarter worth $34,000. 65.10% of the stock is owned by institutional investors.

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.