Snowflake Inc. (NYSE:SNOW) Receives Average Rating of “Moderate Buy” from Analysts

Snowflake Inc. (NYSE:SNOW) has received a consensus rating of “Moderate Buy” from the thirty-seven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $175.17.

A number of research analysts have commented on the company. Loop Capital decreased their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Stifel Nicolaus cut their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company lowered their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, Needham & Company LLC cut their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

Snowflake Stock Up 0.8 %

Shares of NYSE:SNOW opened at $114.82 on Tuesday. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72. The stock has a market cap of $38.44 billion, a P/E ratio of -41.01 and a beta of 0.83. The business has a fifty day moving average of $118.55 and a two-hundred day moving average of $137.08.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) EPS. On average, equities analysts anticipate that Snowflake will post -2.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the completion of the transaction, the executive vice president now owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,386 shares of company stock worth $5,715,941. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently bought and sold shares of the stock. Swedbank AB purchased a new position in Snowflake in the 1st quarter valued at about $258,957,000. Vanguard Group Inc. raised its position in shares of Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Snowflake during the first quarter valued at approximately $171,608,000. Cibc World Markets Corp acquired a new stake in Snowflake during the fourth quarter worth approximately $147,120,000. Finally, AQR Capital Management LLC grew its stake in Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares during the period. Institutional investors and hedge funds 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.