Snowflake (NYSE:SNOW) Shares Up 1.4% – Should You Buy?

Shares of Snowflake Inc. (NYSE:SNOW) shot up 1.4% during trading on Friday . The company traded as high as $216.10 and last traded at $210.66. 5,062,122 shares traded hands during trading, an increase of 8% from the average session volume of 4,703,219 shares. The stock had previously closed at $207.74.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNOW. Evercore ISI lifted their target price on Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. DA Davidson reissued a “buy” rating and set a $300.00 price objective on shares of Snowflake in a report on Monday, December 1st. Oppenheimer reissued an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. Finally, UBS Group reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $275.58.

Snowflake Stock Performance

The stock’s 50-day moving average price is $234.13 and its 200-day moving average price is $228.74. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $72.09 billion, a P/E ratio of -52.14 and a beta of 1.14.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. Snowflake’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Emily Ho sold 1,072 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $223.63, for a total transaction of $239,731.36. Following the completion of the transaction, the chief accounting officer owned 43,809 shares in the company, valued at $9,797,006.67. The trade was a 2.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $221.16, for a total value of $89,127.48. Following the transaction, the director owned 24,121 shares of the company’s stock, valued at approximately $5,334,600.36. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 418,681 shares of company stock worth $96,073,145. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its position in Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Intech Investment Management LLC grew its holdings in Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares in the last quarter. Inspire Investing LLC increased its position in Snowflake by 23.4% in the 1st quarter. Inspire Investing LLC now owns 2,066 shares of the company’s stock valued at $302,000 after acquiring an additional 392 shares during the period. Finally, Fiduciary Alliance LLC bought a new stake in Snowflake during the 2nd quarter valued at $303,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.