Snowflake (NYSE:SNOW) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Snowflake (NYSE:SNOW) from a peer perform rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $235.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Friday, January 10th. Truist Financial reiterated a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Loop Capital increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Oppenheimer lifted their target price on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Finally, Cantor Fitzgerald assumed coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.08.

Snowflake Stock Performance

SNOW opened at $185.35 on Tuesday. The company has a market capitalization of $61.18 billion, a price-to-earnings ratio of -54.68 and a beta of 1.07. The business’s 50-day moving average price is $172.68 and its two-hundred day moving average price is $143.31. Snowflake has a 1 year low of $107.13 and a 1 year high of $235.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 394,345 shares of company stock worth $67,286,835. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Groupama Asset Managment bought a new position in Snowflake in the 3rd quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the fourth quarter worth $29,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the 3rd quarter valued at $30,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the 4th quarter valued at $31,000. Finally, Spurstone Advisory Services LLC bought a new stake in Snowflake during the 4th quarter worth $31,000. 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.