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

Snowflake Inc. (NYSE:SNOW) has earned a consensus recommendation of “Moderate Buy” from the thirty-three analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $202.77.

Several equities analysts have commented on the company. Truist Financial cut their price target on Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. UBS Group lifted their price target on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Piper Sandler restated an “overweight” rating and issued a $250.00 price objective on shares of Snowflake in a research note on Tuesday, February 27th. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. Finally, Stifel Nicolaus reduced their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th.

Insider Activity at Snowflake

In other Snowflake news, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares in the company, valued at approximately $167,110,410. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,458 shares of company stock worth $33,785,640. 8.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Snowflake in the fourth quarter valued at about $838,455,000. Vanguard Group Inc. grew its stake in shares of Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares in the last quarter. FMR LLC raised its holdings in shares of Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC acquired a new position in Snowflake during the third quarter worth $226,302,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Snowflake in the 1st quarter valued at $171,608,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 1.0 %

Shares of SNOW stock opened at $159.32 on Friday. Snowflake has a 1 year low of $138.40 and a 1 year high of $237.72. The firm’s fifty day simple moving average is $164.60 and its 200 day simple moving average is $178.82. The firm has a market capitalization of $53.24 billion, a P/E ratio of -62.48 and a beta of 0.90.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $759.86 million. Equities research 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.