Snowflake (NYSE:SNOW) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Snowflake (NYSE:SNOW – Get Rating) in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a $215.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Cowen decreased their target price on shares of Snowflake from $235.00 to $225.00 in a report on Thursday, December 1st. Oppenheimer decreased their target price on shares of Snowflake from $230.00 to $190.00 in a report on Thursday, December 1st. Citigroup raised their target price on shares of Snowflake from $210.00 to $225.00 and gave the company a buy rating in a report on Thursday, February 23rd. Credit Suisse Group decreased their target price on shares of Snowflake from $250.00 to $200.00 and set an outperform rating on the stock in a report on Monday, December 5th. Finally, Macquarie started coverage on shares of Snowflake in a report on Wednesday, November 2nd. They issued a neutral rating and a $173.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $187.75.

Snowflake Stock Up 5.0 %

Shares of NYSE:SNOW opened at $142.11 on Thursday. The company’s 50 day moving average price is $148.98 and its two-hundred day moving average price is $157.09. Snowflake has a 12-month low of $110.26 and a 12-month high of $246.52. The firm has a market cap of $45.70 billion, a PE ratio of -56.84 and a beta of 0.75.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 724 shares of Snowflake stock in a transaction on Friday, December 9th. The shares were sold at an average price of $142.59, for a total value of $103,235.16. Following the completion of the sale, the insider now owns 14,404 shares in the company, valued at approximately $2,053,866.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Michael Scarpelli sold 200,000 shares of Snowflake stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $151.76, for a total value of $30,352,000.00. Following the completion of the sale, the chief financial officer now owns 101,097 shares in the company, valued at approximately $15,342,480.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 724 shares of Snowflake stock in a transaction on Friday, December 9th. The shares were sold at an average price of $142.59, for a total transaction of $103,235.16. Following the completion of the sale, the insider now owns 14,404 shares of the company’s stock, valued at approximately $2,053,866.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,035 shares of company stock worth $30,642,171. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Snowflake

Several hedge funds have recently modified their holdings of SNOW. VitalStone Financial LLC bought a new stake in Snowflake during the 4th quarter valued at $26,000. Accurate Wealth Management LLC bought a new stake in Snowflake during the 4th quarter valued at $27,000. Truvestments Capital LLC bought a new stake in Snowflake during the 2nd quarter valued at $28,000. Ronald Blue Trust Inc. increased its stake in Snowflake by 41.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 198 shares of the company’s stock valued at $28,000 after purchasing an additional 58 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Snowflake by 333.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Snowflake Company Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.