Snowflake (NYSE:SNOW) Stock Rating Upgraded by Wedbush

Snowflake (NYSE:SNOW) was upgraded by equities researchers at Wedbush from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Oppenheimer increased their price target on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price on shares of Snowflake in a report on Thursday, November 21st. Needham & Company LLC boosted their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. TD Cowen raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Citigroup lowered their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Snowflake Price Performance

SNOW opened at $177.54 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $58.61 billion, a price-to-earnings ratio of -52.37 and a beta of 1.05. The stock’s 50-day moving average price is $163.96 and its 200 day moving average price is $135.63. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC increased its position in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after acquiring an additional 59 shares in the last quarter. Breakwater Capital Group boosted its position in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after purchasing an additional 62 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after purchasing an additional 90 shares in the last quarter. Modus Advisors LLC lifted its stake in shares of Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares in the last quarter. Finally, Catalyst Private Wealth LLC grew its stake in shares of Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after buying an additional 104 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.