Snowflake Inc. (NYSE:SNOW) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Snowflake Inc. (NYSE:SNOW) have received an average rating of “Moderate Buy” from the thirty-eight analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $174.74.

A number of research firms have commented on SNOW. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. UBS Group cut their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

Snowflake Price Performance

Shares of SNOW stock opened at $116.00 on Friday. The stock’s fifty day simple moving average is $115.83 and its 200 day simple moving average is $132.27. The firm has a market cap of $38.84 billion, a price-to-earnings ratio of -41.43 and a beta of 0.83. Snowflake has a one year low of $107.13 and a one year high of $237.72.

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

Insider Buying and Selling

In related news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in the business. Diversify Advisory Services LLC lifted its position in shares of Snowflake by 164.9% in the third quarter. Diversify Advisory Services LLC now owns 93,362 shares of the company’s stock valued at $10,783,000 after buying an additional 58,114 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Snowflake in the third quarter valued at approximately $34,000. Strategic Wealth Investment Group LLC lifted its position in shares of Snowflake by 3.1% in the third quarter. Strategic Wealth Investment Group LLC now owns 5,904 shares of the company’s stock valued at $651,000 after buying an additional 175 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Snowflake in the third quarter valued at approximately $231,000. Finally, Forsta AP Fonden lifted its position in shares of Snowflake by 12.0% in the third quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $7,294,000 after buying an additional 6,800 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.