Snowflake (NYSE:SNOW) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to an outperform rating in a research report report published on Thursday morning, Marketbeat.com reports. They currently have $200.00 target price on the stock.

Several other research analysts also recently commented on the company. StockNews.com upgraded Snowflake from a sell rating to a hold rating in a report on Tuesday, April 30th. JMP Securities upped their price objective on shares of Snowflake from $212.00 to $235.00 and gave the stock a market outperform rating in a research note on Thursday, February 29th. Stifel Nicolaus lowered their price target on shares of Snowflake from $235.00 to $220.00 and set a buy rating for the company in a research report on Thursday, February 29th. Piper Sandler reissued an overweight rating and set a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. Finally, Mizuho restated a buy rating and set a $205.00 target price (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $202.77.

Snowflake Stock Up 1.0 %

SNOW stock opened at $159.32 on Thursday. The firm’s fifty day simple moving average is $163.20 and its two-hundred day simple moving average is $179.12. The stock has a market capitalization of $53.24 billion, a price-to-earnings ratio of -62.48 and a beta of 0.90. Snowflake has a twelve month low of $138.40 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results 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 business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. As a group, equities research analysts expect that Snowflake will post -1.9 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, CEO Sridhar Ramaswamy bought 31,542 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Snowflake news, CEO Sridhar Ramaswamy bought 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the sale, the executive now directly owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock valued at $31,585,640 in the last quarter. Corporate insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Accent Capital Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $25,000. Provence Wealth Management Group purchased a new position in shares of Snowflake during the third quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after acquiring an additional 72 shares during the period. Global Wealth Management Investment Advisory Inc. raised its position in Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in Snowflake in the 1st quarter valued at $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.