Snowflake (NYSE:SNOW) Rating Reiterated by Wedbush

Wedbush reaffirmed their neutral rating on shares of Snowflake (NYSE:SNOW) in a report released on Wednesday morning, Benzinga reports. They currently have a $210.00 price objective on the stock.

A number of other brokerages have also recently issued reports on SNOW. Guggenheim upgraded Snowflake from a sell rating to a neutral rating in a research note on Friday, March 15th. Monness Crespi & Hardt upgraded shares of Snowflake from a sell rating to a neutral rating in a research note on Monday, March 18th. Needham & Company LLC reduced their price objective 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. Citigroup lowered their target price on shares of Snowflake from $290.00 to $240.00 and set a buy rating on the stock in a report on Monday, March 4th. Finally, Stifel Nicolaus reduced their price target on Snowflake from $235.00 to $220.00 and set a buy rating for the company in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Snowflake currently has an average rating of Moderate Buy and an average target price of $200.64.

Snowflake Stock Up 1.0 %

Shares of SNOW stock opened at $156.16 on Wednesday. The firm has a market cap of $52.19 billion, a P/E ratio of -55.77 and a beta of 0.90. The company has a 50 day moving average of $157.03 and a 200-day moving average of $180.31. Snowflake has a 12-month low of $138.40 and a 12-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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. As a group, equities analysts expect that Snowflake will post -1.83 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction dated 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 in the company, valued at $8,627,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Snowflake news, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark D. Mclaughlin acquired 3,030 shares of the stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $165.45 per share, with a total value of $501,313.50. Following the transaction, the director now directly owns 11,687 shares of the company’s stock, valued at approximately $1,933,614.15. The disclosure for this purchase can be found here. Insiders have sold a total of 62,380 shares of company stock worth $9,803,625 in the last 90 days. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently added to or reduced their stakes in SNOW. Yousif Capital Management LLC raised its stake in shares of Snowflake by 5.7% during the third quarter. Yousif Capital Management LLC now owns 2,972 shares of the company’s stock valued at $454,000 after acquiring an additional 160 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Snowflake by 13.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,049 shares of the company’s stock worth $619,000 after buying an additional 471 shares during the period. M&T Bank Corp lifted its holdings in Snowflake by 1.9% in the 3rd quarter. M&T Bank Corp now owns 15,766 shares of the company’s stock worth $2,408,000 after buying an additional 295 shares during the period. Dai ichi Life Insurance Company Ltd grew its position in shares of Snowflake by 13.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 2,290 shares of the company’s stock worth $350,000 after buying an additional 277 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in shares of Snowflake by 14.3% during the third quarter. Main Street Financial Solutions LLC now owns 2,839 shares of the company’s stock valued at $434,000 after buying an additional 355 shares during the period. Institutional investors own 65.10% of the company’s stock.

About Snowflake

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.