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

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned an average rating of “Moderate Buy” from the forty-two research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $268.2222.

A number of research firms recently weighed in on SNOW. Stifel Nicolaus upped their target price on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Royal Bank Of Canada increased their price objective on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Citigroup raised their target price on Snowflake from $275.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler upped their price target on Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, DA Davidson reissued a “buy” rating and issued a $250.00 price target on shares of Snowflake in a research report on Monday, August 25th.

Insider Activity

In related news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the transaction, the senior vice president directly owned 241,854 shares of the company’s stock, valued at $53,986,649.88. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the transaction, the executive vice president owned 522,450 shares in the company, valued at approximately $145,100,038.50. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 221,305 shares of company stock worth $52,925,799 over the last quarter. Insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently modified their holdings of SNOW. Vanguard Group Inc. boosted its position in Snowflake by 3.1% during the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after purchasing an additional 857,832 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake during the 2nd quarter valued at approximately $3,900,134,000. Jennison Associates LLC boosted its holdings in Snowflake by 13.5% in the 3rd quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock worth $2,048,871,000 after buying an additional 1,083,222 shares during the period. State Street Corp grew its stake in Snowflake by 1.4% in the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after buying an additional 94,293 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after acquiring an additional 652,485 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of SNOW stock opened at $250.97 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $248.96 and a two-hundred day simple moving average of $224.24. Snowflake has a 12 month low of $120.10 and a 12 month high of $280.67. The firm has a market capitalization of $85.03 billion, a PE ratio of -60.47 and a beta of 1.23.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Analysts forecast that Snowflake will post -2.36 EPS for the current fiscal year.

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.