Snowflake (NYSE:SNOW) Lifted to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to a buy rating in a report published on Friday, PriceTargets.com reports. The brokerage currently has $275.00 price objective on the stock, up from their prior price objective of $270.00.

Several other equities analysts have also weighed in on SNOW. Barclays cut their price objective on shares of Snowflake from $295.00 to $270.00 and set an equal weight rating on the stock in a research report on Wednesday, March 10th. Morgan Stanley raised their price objective on shares of Snowflake from $265.00 to $270.00 and gave the company an equal weight rating in a research report on Wednesday, March 10th. UBS Group assumed coverage on Snowflake in a report on Monday, March 29th. They set a buy rating and a $275.00 price target on the stock. Exane BNP Paribas assumed coverage on Snowflake in a report on Thursday, April 22nd. They set a neutral rating and a $245.00 price target on the stock. Finally, Needham & Company LLC assumed coverage on Snowflake in a report on Monday, May 10th. They set a hold rating on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $284.46.

NYSE SNOW opened at $212.65 on Friday. The company has a 50 day simple moving average of $224.97 and a 200-day simple moving average of $269.22. Snowflake has a 52-week low of $184.71 and a 52-week high of $429.00.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.53). The company had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $178.64 million. The business’s revenue for the quarter was up 117.2% on a year-over-year basis. Sell-side analysts predict that Snowflake will post -1.77 EPS for the current fiscal year.

In other Snowflake news, CFO Michael Scarpelli sold 15,000 shares of Snowflake stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $229.32, for a total transaction of $3,439,800.00. Following the completion of the transaction, the chief financial officer now directly owns 139,895 shares of the company’s stock, valued at $32,080,721.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 31,546 shares of Snowflake stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $222.47, for a total value of $7,018,038.62. Following the transaction, the chief executive officer now directly owns 105,913 shares of the company’s stock, valued at $23,562,465.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,339,025 shares of company stock valued at $300,856,426. Company insiders own 0.24% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. tru Independence LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $22,512,000. RMR Wealth Builders bought a new position in shares of Snowflake in the fourth quarter valued at about $25,000. Crescent Capital Consulting LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $28,000. Cypress Capital Management LLC WY bought a new position in shares of Snowflake in the fourth quarter valued at about $28,000. Finally, Reilly Financial Advisors LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $28,000. 23.16% of the stock is owned by institutional investors.

Snowflake Company Profile

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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