Snowflake (NYSE:SNOW) Stock Rating Upgraded by Daiwa America

Snowflake (NYSE:SNOW) was upgraded by investment analysts at Daiwa America to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. UBS Group raised their price objective on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 20th. Cantor Fitzgerald raised their price objective on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a research report on Tuesday, February 18th. Finally, Bank of America lifted their price target on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Snowflake Price Performance

SNOW stock opened at $154.23 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company’s 50-day moving average is $170.55 and its 200-day moving average is $152.08. The stock has a market capitalization of $50.91 billion, a PE ratio of -45.50 and a beta of 1.07. Snowflake has a 1 year low of $107.13 and a 1 year high of $194.40.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the sale, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. This trade represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,186 shares of company stock valued at $82,353,709. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the business. Groupama Asset Managment purchased a new position in Snowflake in the 3rd quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the fourth quarter valued at about $29,000. West Paces Advisors Inc. purchased a new position in shares of Snowflake in the fourth quarter worth about $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake during the 4th quarter valued at about $31,000. 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.