Snowflake (SNOW) Set to Announce Quarterly Earnings on Wednesday

Snowflake (NYSE:SNOWGet Rating) is scheduled to be announcing its earnings results after the market closes on Wednesday, May 25th. Analysts expect the company to announce earnings of ($0.39) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Snowflake (NYSE:SNOWGet Rating) last announced its earnings results on Wednesday, March 2nd. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. The business had revenue of $383.77 million during the quarter, compared to analysts’ expectations of $371.89 million. Snowflake had a negative net margin of 55.76% and a negative return on equity of 13.45%. During the same period in the prior year, the company earned ($0.70) earnings per share. On average, analysts expect Snowflake to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Shares of SNOW stock opened at $145.81 on Wednesday. The stock’s 50-day moving average price is $193.48 and its 200 day moving average price is $272.70. The stock has a market capitalization of $45.87 billion, a PE ratio of -63.95 and a beta of 1.80. Snowflake has a 52-week low of $126.01 and a 52-week high of $405.00.

In other Snowflake news, Director Michael L. Speiser sold 750,000 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $222.18, for a total transaction of $166,635,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 11.30% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Morgan Stanley boosted its position in Snowflake by 16.9% during the 2nd quarter. Morgan Stanley now owns 14,898,246 shares of the company’s stock worth $3,602,396,000 after purchasing an additional 2,150,500 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Snowflake in the third quarter valued at approximately $664,000. Privium Fund Management UK Ltd acquired a new position in shares of Snowflake during the fourth quarter worth $22,975,000. Flagship Harbor Advisors LLC purchased a new position in shares of Snowflake in the fourth quarter valued at $209,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Snowflake during the 4th quarter valued at $318,000. Institutional investors own 76.67% of the company’s stock.

Several equities research analysts recently weighed in on SNOW shares. BNP Paribas downgraded Snowflake from a “neutral” rating to an “underperform” rating and set a $190.00 price target for the company. in a report on Tuesday, March 29th. Jefferies Financial Group cut their price target on shares of Snowflake from $300.00 to $230.00 and set a “hold” rating for the company in a report on Thursday, March 3rd. Rosenblatt Securities reduced their price objective on shares of Snowflake from $380.00 to $325.00 and set a “neutral” rating for the company in a research report on Thursday, March 3rd. Morgan Stanley dropped their target price on Snowflake from $390.00 to $355.00 and set an “overweight” rating on the stock in a research report on Thursday, March 3rd. Finally, Canaccord Genuity Group decreased their price target on Snowflake from $360.00 to $210.00 in a research note on Thursday, March 3rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Hold” and a consensus price target of $303.89.

Snowflake Company Profile (Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

Further Reading

Earnings History for Snowflake (NYSE:SNOW)

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