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

Snowflake Inc. (NYSE:SNOW) has been assigned a consensus rating of “Moderate Buy” from the forty-one ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $293.5263.

A number of equities research analysts recently commented on SNOW shares. Rosenblatt Securities upped their price objective on Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Barclays raised their target price on Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. BTIG Research boosted their target price on Snowflake from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Wedbush boosted their target price on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Snowflake in a research note on Thursday, May 28th.

Snowflake Stock Performance

Shares of Snowflake stock opened at $261.56 on Monday. The firm has a fifty day moving average of $214.78 and a two-hundred day moving average of $191.74. The stock has a market capitalization of $90.66 billion, a price-to-earnings ratio of -74.31 and a beta of 1.35. Snowflake has a 52 week low of $118.30 and a 52 week high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts predict that Snowflake will post -1.84 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 437,076 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the sale, the director directly owned 38,046 shares in the company, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, May 1st. The stock was sold at an average price of $141.60, for a total transaction of $7,127,860.80. Following the transaction, the director directly owned 28,556 shares in the company, valued at approximately $4,043,529.60. This represents a 63.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,802,015 shares of company stock valued at $421,739,629 in the last 90 days. 4.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

A number of large investors have recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in Snowflake during the 4th quarter worth $28,000. Greenline Wealth Management LLC acquired a new position in Snowflake in the fourth quarter valued at about $29,000. GoalVest Advisory LLC grew its stake in Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares during the period. Basecamp Wealth Advisors LLC increased its holdings in shares of Snowflake by 140.5% in the first quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after acquiring an additional 118 shares in the last quarter. Finally, Physician Wealth Advisors Inc. increased its holdings in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.