Snowflake (NYSE:SNOW) Receives “Overweight” Rating from Piper Sandler

Snowflake (NYSE:SNOW)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $185.00 price target on the stock. Piper Sandler’s price target would suggest a potential upside of 7.79% from the stock’s current price.

Several other research firms have also recently commented on SNOW. Deutsche Bank Aktiengesellschaft upped their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial restated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Monness Crespi & Hardt increased their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Loop Capital dropped their price objective 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. Finally, Stifel Nicolaus dropped their price objective on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.46.

Snowflake Stock Performance

NYSE:SNOW traded down $0.84 during trading hours on Tuesday, hitting $171.63. 1,171,635 shares of the company traded hands, compared to its average volume of 6,777,151. The stock has a market capitalization of $56.66 billion, a price-to-earnings ratio of -50.48 and a beta of 1.03. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The firm has a 50-day moving average of $140.12 and a 200 day moving average of $129.75. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 861 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $95,924.01. Following the completion of the sale, the executive vice president now owns 751,755 shares of the company’s stock, valued at approximately $83,753,024.55. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 283,158 shares of company stock worth $46,709,467 over the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank lifted its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the period. Independent Advisor Alliance lifted its position in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Snowflake by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after purchasing an additional 36,704 shares during the period. Sender Co & Partners Inc. lifted its position in Snowflake by 100.9% during the third quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock worth $979,000 after purchasing an additional 4,280 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in Snowflake during the second quarter worth about $2,918,000. 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.