Snowflake’s (SNOW) Neutral Rating Reaffirmed at Guggenheim

Guggenheim reaffirmed their neutral rating on shares of Snowflake (NYSE:SNOW) in a report issued on Thursday,Benzinga reports.

Other analysts have also recently issued research reports about the stock. Bank of America boosted their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Mizuho boosted their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their target price on Snowflake from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Rosenblatt Securities boosted their price target on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Evercore ISI upped their price objective on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $173.78 on Thursday. The company’s 50 day simple moving average is $172.98 and its 200 day simple moving average is $145.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 1 year low of $107.13 and a 1 year high of $233.88. The stock has a market capitalization of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07.

Insiders Place Their Bets

In other news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock valued at $52,833,048 in the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

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