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

Snowflake Inc. (NYSE:SNOW) has received a consensus rating of “Moderate Buy” from the forty-four research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, thirty-six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $259.8947.

Several brokerages recently issued reports on SNOW. Macquarie boosted their target price on shares of Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Wells Fargo & Company initiated coverage on shares of Snowflake in a research report on Tuesday, September 30th. They set an “overweight” rating and a $275.00 price objective for the company. Cantor Fitzgerald raised their target price on Snowflake from $242.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Jefferies Financial Group lifted their target price on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Evercore ISI upped their price target on Snowflake from $240.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th.

Snowflake Stock Performance

SNOW stock opened at $271.16 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. Snowflake has a 1 year low of $120.10 and a 1 year high of $280.67. The company has a market cap of $91.87 billion, a P/E ratio of -65.34 and a beta of 1.23. The stock’s fifty day moving average price is $241.91 and its 200-day moving average price is $217.11.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, equities analysts forecast that Snowflake will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president directly owned 241,854 shares in the company, valued at $53,986,649.88. This trade represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $257.29, for a total transaction of $103,687.87. Following the completion of the transaction, the director directly owned 24,927 shares of the company’s stock, valued at $6,413,467.83. This represents a 1.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 931,388 shares of company stock worth $216,578,628. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the business. Trust Co. of Toledo NA OH purchased a new stake in Snowflake during the 2nd quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Snowflake during the third quarter worth $25,000. Avion Wealth increased its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares during the last quarter. Tripletail Wealth Management LLC purchased a new stake in Snowflake in the 3rd quarter worth $28,000. Finally, Rossby Financial LCC boosted its holdings in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

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.