Snowflake (NYSE:SNOW) Stock Rating Upgraded by BTIG Research

Snowflake (NYSE:SNOW) was upgraded by stock analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $220.00 price objective on the stock. BTIG Research’s target price would suggest a potential upside of 18.00% from the company’s current price.

A number of other analysts have also commented on the company. Wedbush raised Snowflake from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. TD Cowen lifted their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Piper Sandler lifted their price objective on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Mizuho lifted their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One equities research 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 stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $191.54.

Snowflake Stock Performance

Snowflake stock opened at $186.44 on Thursday. The business’s 50-day moving average price is $172.37 and its two-hundred day moving average price is $143.01. Snowflake has a 12-month low of $107.13 and a 12-month high of $235.66. The stock has a market cap of $61.54 billion, a PE ratio of -55.00 and a beta of 1.07. 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

In related news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at $4,667,476.32. This trade represents a 6.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 440,241 shares of company stock worth $75,367,285. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC purchased a new position in shares of Snowflake in the 4th quarter valued at approximately $288,000. Independent Advisor Alliance lifted its stake in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at approximately $5,851,000. 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.