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

JMP Securities restated their market outperform rating on shares of Snowflake (NYSE:SNOW) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $201.00 target price on the stock.

A number of other equities analysts also recently issued reports on the stock. Loop Capital lifted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Macquarie started coverage on shares of Snowflake in a report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 price target on the stock. UBS Group upped their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Needham & Company LLC lifted their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group boosted their target price on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.00.

Snowflake Stock Up 0.4%

Shares of NYSE:SNOW opened at $182.81 on Tuesday. The business’s 50 day moving average is $156.90 and its 200 day moving average is $162.25. Snowflake has a 12-month low of $107.13 and a 12-month high of $194.40. The stock has a market cap of $60.35 billion, a price-to-earnings ratio of -53.93 and a beta of 1.11. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of SNOW. Merit Financial Group LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $493,000. HB Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $397,000. Harbor Investment Advisory LLC increased its holdings in shares of Snowflake by 85.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 435 shares of the company’s stock worth $67,000 after purchasing an additional 200 shares during the period. Ballentine Partners LLC purchased a new stake in shares of Snowflake in the fourth quarter worth $208,000. Finally, TB Alternative Assets Ltd. purchased a new stake in shares of Snowflake in the fourth quarter worth $427,000. 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.