Daiwa America upgraded shares of Snowflake (NYSE:SNOW - Free Report) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.
Other equities research analysts also recently issued reports about the company. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Wedbush set a $210.00 price target on Snowflake in a report on Wednesday, January 22nd. Evercore ISI raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, Mizuho boosted their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average target price of $203.05.
Get Our Latest Research Report on Snowflake
Snowflake Stock Performance
Shares of Snowflake stock traded down $9.49 on Tuesday, reaching $130.41. 8,210,700 shares of the stock were exchanged, compared to its average volume of 6,400,660. The business has a 50 day moving average price of $168.97 and a two-hundred day moving average price of $152.40. The firm has a market capitalization of $43.05 billion, a price-to-earnings ratio of -38.47 and a beta of 1.13. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
Insider Buying and Selling
In other news, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was 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 position. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock valued at $82,353,709 in the last three months. 7.80% of the stock is owned by corporate insiders.
Institutional Trading of Snowflake
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Groupama Asset Managment purchased a new position in shares of Snowflake in the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the fourth quarter worth about $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.
About Snowflake
(
Get Free Report)
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.
See Also
Before you consider Snowflake, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Snowflake wasn't on the list.
While Snowflake currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
