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

Snowflake Inc. (NYSE:SNOW) has received an average rating of “Moderate Buy” from the twenty-five research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $190.25.

Several equities analysts have commented on SNOW shares. Sanford C. Bernstein decreased their price objective on shares of Snowflake from $157.00 to $148.00 in a report on Friday, May 26th. Wells Fargo & Company upped their price objective on shares of Snowflake from $195.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler decreased their price objective on shares of Snowflake from $210.00 to $205.00 and set an “overweight” rating on the stock in a report on Thursday. Evercore ISI decreased their price objective on shares of Snowflake from $196.00 to $190.00 in a report on Friday, May 5th. Finally, William Blair started coverage on shares of Snowflake in a report on Wednesday, June 28th. They issued an “outperform” rating on the stock.

Snowflake Trading Up 3.3 %

Shares of SNOW opened at $152.55 on Monday. The company has a market cap of $49.72 billion, a price-to-earnings ratio of -57.35 and a beta of 0.75. Snowflake has a 1-year low of $119.27 and a 1-year high of $205.66. The company’s fifty day simple moving average is $168.85 and its 200 day simple moving average is $159.51.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 23rd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The business had revenue of $674.00 million for the quarter, compared to the consensus estimate of $662.22 million. Snowflake had a negative net margin of 35.22% and a negative return on equity of 14.01%. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.67) earnings per share. As a group, research analysts forecast that Snowflake will post -1.48 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, CEO Frank Slootman sold 20,834 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $188.40, for a total value of $3,925,125.60. Following the completion of the transaction, the chief executive officer now owns 185,683 shares of the company’s stock, valued at $34,982,677.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $151.54, for a total value of $227,310.00. Following the completion of the transaction, the senior vice president now owns 764,397 shares of the company’s stock, valued at $115,836,721.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank Slootman sold 20,834 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $188.40, for a total value of $3,925,125.60. Following the completion of the transaction, the chief executive officer now directly owns 185,683 shares of the company’s stock, valued at approximately $34,982,677.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 634,791 shares of company stock valued at $112,514,182. 8.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. Cigna Investments Inc. New increased its position in Snowflake by 1.9% during the 2nd quarter. Cigna Investments Inc. New now owns 3,244 shares of the company’s stock valued at $571,000 after purchasing an additional 61 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Snowflake by 0.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,232 shares of the company’s stock valued at $2,505,000 after purchasing an additional 63 shares during the period. Verus Capital Partners LLC increased its position in Snowflake by 1.7% during the 1st quarter. Verus Capital Partners LLC now owns 3,803 shares of the company’s stock valued at $587,000 after purchasing an additional 64 shares during the period. Visionary Wealth Advisors increased its position in Snowflake by 4.8% during the 2nd quarter. Visionary Wealth Advisors now owns 1,540 shares of the company’s stock valued at $271,000 after purchasing an additional 70 shares during the period. Finally, Main Street Financial Solutions LLC increased its position in Snowflake by 2.9% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,484 shares of the company’s stock valued at $437,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 63.55% 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.