Snowflake (NYSE:SNOW) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Snowflake (NYSE:SNOW) from a sell rating to a hold rating in a report released on Tuesday.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC dropped their price target on shares of Snowflake from $265.00 to $240.00 and set a buy rating for the company in a research note on Thursday, February 29th. Rosenblatt Securities raised Snowflake from a neutral rating to a buy rating and set a $185.00 price target on the stock in a research note on Friday, April 5th. Redburn Atlantic reissued a sell rating and set a $125.00 price objective (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. HSBC reaffirmed a reduce rating on shares of Snowflake in a research report on Thursday, February 29th. Finally, Evercore ISI dropped their price target on shares of Snowflake from $250.00 to $225.00 and set an outperform rating for the company in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of Moderate Buy and a consensus target price of $202.00.

Snowflake Trading Down 1.4 %

Shares of SNOW opened at $155.16 on Tuesday. Snowflake has a 12 month low of $138.40 and a 12 month high of $237.72. The firm has a market cap of $51.85 billion, a P/E ratio of -60.85 and a beta of 0.91. The stock’s 50 day moving average is $167.16 and its two-hundred day moving average is $179.13.

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

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 12,533 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total value of $2,507,101.32. Following the completion of the transaction, the executive now directly 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 is accessible through the SEC website. In other news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly owns 98,172 shares of the company’s stock, valued at $19,638,326.88. The disclosure for this sale can be found here. Insiders sold 168,209 shares of company stock valued at $34,291,592 over the last three months. 8.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $790,000. Sequoia Financial Advisors LLC raised its stake in shares of Snowflake by 209.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after purchasing an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Snowflake during the third quarter worth approximately $458,000. Glynn Capital Management LLC raised its stake in shares of Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Snowflake by 55.9% during the fourth quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after purchasing an additional 105,937 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.