Snowflake (NYSE:SNOW) Receives “Overweight” Rating from Piper Sandler

Snowflake (NYSE:SNOW)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a research note issued on Tuesday,Benzinga reports. They currently have a $185.00 price target on the stock. Piper Sandler’s price target points to a potential upside of 7.79% from the company’s previous close.

A number of other research firms have also recently commented on SNOW. Monness Crespi & Hardt increased their target price on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Mizuho increased their target price on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada increased their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Barclays increased their target price on Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.46.

Snowflake Price Performance

Shares of SNOW stock traded down $0.84 on Tuesday, reaching $171.63. The company had a trading volume of 1,171,635 shares, compared to its average volume of 6,777,151. The stock has a market capitalization of $56.66 billion, a PE ratio of -50.48 and a beta of 1.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a one year low of $107.13 and a one year high of $237.72. The business’s 50-day moving average is $140.12 and its 200 day moving average is $129.75.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 1,712 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $306,448.00. Following the transaction, the director now directly owns 205,965 shares in the company, valued at approximately $36,867,735. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 283,158 shares of company stock valued at $46,709,467. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oddo BHF Asset Management Sas bought a new position in shares of Snowflake during the third quarter valued at $12,145,000. Garde Capital Inc. lifted its holdings in shares of Snowflake by 9.5% during the third quarter. Garde Capital Inc. now owns 6,050 shares of the company’s stock valued at $695,000 after purchasing an additional 526 shares in the last quarter. Franklin Resources Inc. lifted its holdings in 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 during the period. Synovus Financial Corp lifted its holdings in Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock valued at $698,000 after acquiring an additional 1,352 shares during the period. Finally, Blankinship & Foster LLC bought a new position in Snowflake in the third quarter valued at about $896,000. 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.