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

Snowflake Inc. (NYSE:SNOW) has received an average rating of “Moderate Buy” from the thirty-eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $184.46.

Several research analysts have weighed in on the stock. Argus assumed coverage on shares of Snowflake in a report on Tuesday, October 1st. They set a “hold” rating on the stock. Jefferies Financial Group boosted their price objective on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Monness Crespi & Hardt increased their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Scotiabank lifted their price target on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th.

Snowflake Price Performance

Shares of NYSE SNOW opened at $166.29 on Friday. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. 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 firm has a fifty day simple moving average of $143.77 and a 200 day simple moving average of $130.62. The company has a market capitalization of $54.89 billion, a PE ratio of -49.05 and a beta of 1.03.

Insider Activity at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the 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 completion of the sale, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 292,901 shares of company stock valued at $48,375,520. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

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

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.