StockNews.com Lowers Snowflake (NYSE:SNOW) to Sell

StockNews.com lowered shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a report issued on Monday morning.

A number of other equities analysts have also recently issued reports on SNOW. Canaccord Genuity Group restated a buy rating and set a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. UBS Group lifted their price objective on Snowflake from $185.00 to $225.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. HSBC reiterated a reduce rating on shares of Snowflake in a report on Thursday, February 29th. Redburn Atlantic reissued a sell rating and issued a $125.00 price target (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Finally, Mizuho reaffirmed a buy rating and set a $205.00 price objective (down previously from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $202.00.

Snowflake Price Performance

SNOW opened at $155.01 on Monday. The stock’s 50 day simple moving average is $172.95 and its 200 day simple moving average is $179.15. The stock has a market cap of $51.80 billion, a P/E ratio of -60.79 and a beta of 0.91. Snowflake has a 1-year low of $135.26 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Research analysts expect that Snowflake will post -1.9 EPS for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the completion of the sale, the executive now owns 98,172 shares of the company’s stock, valued at $19,638,326.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the senior vice president now owns 736,567 shares of the company’s stock, valued at $162,044,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Christopher William Degnan sold 12,533 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the sale, the executive now owns 98,172 shares of the company’s stock, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,209 shares of company stock worth $34,291,592. 8.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC bought a new position in Snowflake during the 4th quarter valued at $25,000. Ulland Investment Advisors LLC raised its stake in Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after buying an additional 135 shares in the last quarter. FinTrust Capital Advisors LLC lifted its holdings in Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Snowflake in the 1st quarter worth approximately $31,000. Finally, Provence Wealth Management Group bought a new stake in shares of Snowflake in the 3rd quarter valued at approximately $30,000. 65.10% of the stock is currently 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.