Snowflake (NYSE:SNOW) Receives Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $190.00 price objective on the stock.

Several other brokerages also recently weighed in on SNOW. Loop Capital decreased their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Mizuho upped their price objective on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Stifel Nicolaus cut their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft increased their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, UBS Group dropped their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Price Performance

Snowflake stock opened at $176.02 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $59.00 billion, a P/E ratio of -51.92 and a beta of 1.03. The firm has a fifty day moving average of $128.62 and a 200-day moving average of $128.42. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 59,617 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at $36,789,543.75. This represents a 22.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,278 shares of company stock valued at $42,512,248. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after buying an additional 108 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snowflake in the second quarter worth approximately $41,000. Mather Group LLC. increased its stake in shares of Snowflake by 223.6% during the 2nd quarter. Mather Group LLC. now owns 906 shares of the company’s stock worth $122,000 after purchasing an additional 626 shares during the last quarter. Fulton Bank N.A. raised its holdings in shares of Snowflake by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after purchasing an additional 228 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Snowflake by 10.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,531 shares of the company’s stock valued at $1,017,000 after purchasing an additional 727 shares during 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.