Snowflake’s (SNOW) Buy Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group restated their buy rating on shares of Snowflake (NYSE:SNOW) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $220.00 price target on the stock.

Several other analysts also recently weighed in on the company. Monness Crespi & Hardt upgraded Snowflake from a sell rating to a neutral rating in a research report on Monday, March 18th. Oppenheimer reiterated an outperform rating and set a $220.00 target price on shares of Snowflake in a research report on Thursday, May 23rd. Needham & Company LLC reiterated a buy rating and set a $210.00 target price on shares of Snowflake in a research report on Wednesday, June 5th. Redburn Atlantic reiterated a sell rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Piper Sandler reiterated an overweight rating and set a $240.00 target price on shares of Snowflake in a research report on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $199.46.

Snowflake Trading Up 5.7 %

Snowflake stock opened at $142.74 on Monday. Snowflake has a 12-month low of $122.60 and a 12-month high of $237.72. The firm has a 50 day moving average of $145.65 and a 200 day moving average of $172.66. The firm has a market capitalization of $47.79 billion, a price-to-earnings ratio of -50.98 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. On average, analysts predict that Snowflake will post -2.28 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Emily Ho sold 6,500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the sale, the chief accounting officer now directly owns 36,076 shares in the company, valued at approximately $5,712,995.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 519,112 shares of company stock valued at $64,932,073. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. Accent Capital Management LLC acquired a new stake in shares of Snowflake in the fourth quarter worth $25,000. LRI Investments LLC acquired a new stake in shares of Snowflake in the first quarter worth $29,000. Riverview Trust Co acquired a new stake in shares of Snowflake in the first quarter worth $31,000. Hartford Financial Management Inc. acquired a new stake in shares of Snowflake in the first quarter worth $32,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Snowflake in the first quarter worth $32,000. 65.10% of the stock is owned by institutional investors.

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.