Snowflake (NYSE:SNOW) Upgraded by Wolfe Research to “Outperform” Rating

Snowflake (NYSE:SNOW) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $235.00 price objective on the stock. Wolfe Research’s price objective points to a potential upside of 25.09% from the company’s previous close.

Other analysts have also issued reports about the company. Citigroup decreased their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. TD Cowen boosted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Loop Capital lifted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $150.00 to $200.00 in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $188.94.

Snowflake Price Performance

SNOW stock opened at $187.86 on Tuesday. The stock has a market capitalization of $62.01 billion, a price-to-earnings ratio of -55.42 and a beta of 1.07. 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 52-week low of $107.13 and a 52-week high of $236.33. The stock’s fifty day simple moving average is $171.66 and its 200-day simple moving average is $142.19.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,933 shares of company stock worth $88,283,752 in the last ninety days. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNOW. Stonebridge Financial Group LLC bought a new position in Snowflake in the fourth quarter worth about $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $31,000. Colonial Trust Co SC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $33,000. Finally, Quadrant Capital Group LLC boosted its position in Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. 65.10% of the stock is currently 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.