Snowflake (NYSE:SNOW) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Snowflake (NYSE:SNOWFree Report) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Other equities research analysts have also recently issued reports about the company. Monness Crespi & Hardt raised Snowflake from a sell rating to a neutral rating in a research report on Monday, March 18th. Barclays reduced their target price on Snowflake from $198.00 to $188.00 and set an equal weight rating on the stock in a report on Friday, March 1st. Royal Bank of Canada dropped their price target on Snowflake from $255.00 to $246.00 and set an outperform rating for the company in a research note on Thursday, February 29th. HSBC reiterated a reduce rating on shares of Snowflake in a research note on Thursday, February 29th. Finally, KeyCorp initiated coverage on shares of Snowflake in a research report on Thursday, April 11th. They issued an overweight rating and a $185.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of Moderate Buy and a consensus price target of $202.43.

View Our Latest Analysis on SNOW

Snowflake Trading Down 1.9 %

SNOW stock opened at $161.86 on Thursday. Snowflake has a fifty-two week low of $138.40 and a fifty-two week high of $237.72. The business’s fifty day moving average price is $157.04 and its two-hundred day moving average price is $179.89.

Snowflake (NYSE:SNOWGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Equities analysts predict that Snowflake will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares in the company, valued at approximately $8,627,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The disclosure for this sale can be found here. Insiders sold 62,380 shares of company stock valued at $9,803,625 over the last quarter. Insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Snowflake by 1.4% during the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after acquiring an additional 297,428 shares in the last quarter. Jennison Associates LLC raised its holdings in Snowflake by 3.7% during the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after buying an additional 249,249 shares during the last quarter. FMR LLC lifted its stake 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 buying an additional 1,496,235 shares in the last quarter. Sands Capital Management LLC grew its holdings in shares of Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after buying an additional 610,970 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Snowflake during the fourth quarter worth about $838,455,000. 65.10% of the stock is owned by institutional investors.

About Snowflake

(Get Free Report)

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.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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