Snowflake Inc. (NYSE:SNOW) Receives Average Rating of “Hold” from Brokerages

Snowflake Inc. (NYSE:SNOWGet Rating) has earned an average rating of “Hold” from the thirty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $311.34.

Several research firms have weighed in on SNOW. Truist Financial cut their price target on Snowflake from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, March 24th. Loop Capital upgraded Snowflake from a “hold” rating to a “buy” rating and set a $370.00 price target for the company in a report on Tuesday, January 25th. Mizuho cut their price target on Snowflake from $410.00 to $370.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. Rosenblatt Securities lowered their price objective on Snowflake from $380.00 to $325.00 and set a “neutral” rating for the company in a research note on Thursday, March 3rd. Finally, Canaccord Genuity Group lowered their price objective on Snowflake from $360.00 to $210.00 in a research note on Thursday, March 3rd.

In other news, Director Mark Garrett sold 271 shares of Snowflake stock in a transaction on Tuesday, January 18th. The stock was sold at an average price of $289.32, for a total value of $78,405.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 750,000 shares of Snowflake stock in a transaction on Friday, March 18th. The shares were sold at an average price of $222.18, for a total value of $166,635,000.00. The disclosure for this sale can be found here. Company insiders own 11.30% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Glassman Wealth Services grew its stake in Snowflake by 233.3% during the 4th quarter. Glassman Wealth Services now owns 80 shares of the company’s stock worth $27,000 after buying an additional 56 shares during the last quarter. PrairieView Partners LLC grew its stake in Snowflake by 66.7% during the 4th quarter. PrairieView Partners LLC now owns 100 shares of the company’s stock worth $34,000 after buying an additional 40 shares during the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in Snowflake during the 4th quarter worth $34,000. KRS Capital Management LLC purchased a new position in Snowflake during the 4th quarter worth $33,000. Finally, GW&K Investment Management LLC purchased a new position in Snowflake during the 4th quarter worth $34,000. Institutional investors and hedge funds own 68.05% of the company’s stock.

NYSE:SNOW opened at $198.63 on Friday. Snowflake has a 12-month low of $164.29 and a 12-month high of $405.00. The stock has a 50-day moving average price of $237.80 and a 200 day moving average price of $297.80. The stock has a market capitalization of $62.49 billion, a P/E ratio of -87.12 and a beta of 1.59.

Snowflake (NYSE:SNOWGet Rating) last released its quarterly earnings results on Wednesday, March 2nd. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. Snowflake had a negative return on equity of 13.45% and a negative net margin of 55.76%. During the same quarter in the previous year, the firm posted ($0.70) earnings per share. Research analysts predict that Snowflake will post -1.6 EPS for the current year.

Snowflake Company Profile (Get Rating)

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.

Further Reading

Analyst Recommendations for Snowflake (NYSE:SNOW)

Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.