Snowflake’s (SNOW) Market Outperform Rating Reaffirmed at JMP Securities

Snowflake (NYSE:SNOW)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a report released on Tuesday,Benzinga reports. They currently have a $201.00 target price on the stock. JMP Securities’ price objective suggests a potential upside of 10.33% from the stock’s current price.

Several other research firms also recently issued reports on SNOW. Bank of America upped their price objective on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $183.00 price target on shares of Snowflake in a research report on Wednesday, April 2nd. Truist Financial decreased their price objective on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 31st. Macquarie assumed coverage on shares of Snowflake in a research report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 target price for the company. Finally, Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Snowflake Price Performance

NYSE:SNOW opened at $182.19 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 fifty day simple moving average of $156.24 and a 200 day simple moving average of $162.11. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The stock has a market capitalization of $60.14 billion, a PE ratio of -53.60 and a beta of 1.11.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock worth $58,204,058 over the last quarter. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the stock. Prospect Financial Services LLC purchased a new position in shares of Snowflake in the fourth quarter valued at about $288,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in Snowflake in the fourth quarter worth approximately $5,851,000. Stephens Consulting LLC grew its position in Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after buying an additional 2,000 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its position in Snowflake by 40.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after acquiring an additional 4,559 shares during the period. 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.