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

Snowflake Inc. (NYSE:SNOW) has been assigned an average recommendation of “Moderate Buy” from the thirty-three brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $202.77.

A number of equities analysts have issued reports on the company. JMP Securities increased their price target on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a report on Thursday, February 29th. Citigroup reduced their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Wedbush increased their price objective on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Raymond James increased their price target on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada lowered their target price on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th.

Insider Transactions at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the transaction, the executive now owns 354,954 shares in the company, valued at $55,571,598.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the sale, the senior vice president now owns 726,567 shares in the company, valued at approximately $167,110,410. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,380 shares of company stock valued at $12,206,900. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Snowflake by 8.0% during the 4th 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 in the last quarter. Jennison Associates LLC grew its stake in shares of Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after acquiring an additional 249,249 shares during the last quarter. FMR LLC increased its holdings in shares of Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Sands Capital Management LLC raised its position in shares of Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after purchasing an additional 610,970 shares during the last quarter. Finally, Norges Bank bought a new position in Snowflake in the 4th quarter worth about $838,455,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.9 %

SNOW opened at $157.72 on Friday. The stock has a market cap of $52.71 billion, a PE ratio of -61.85 and a beta of 0.90. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72. The company has a fifty day moving average of $160.35 and a 200-day moving average of $179.27.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Sell-side analysts anticipate that Snowflake will post -1.9 EPS for the current fiscal year.

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.