Snowflake Inc. (NYSE:SNOW) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Snowflake Inc. (NYSE:SNOW) have received a consensus rating of “Moderate Buy” from the thirty-three brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $202.77.

Several research analysts recently weighed in on the stock. Mizuho restated a “buy” rating and set a $205.00 price target (down from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Stifel Nicolaus cut their price target on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Truist Financial decreased their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Evercore ISI cut their price target on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th.

Snowflake Stock Up 1.0 %

Shares of SNOW opened at $159.32 on Friday. The stock has a market cap of $53.24 billion, a P/E ratio of -62.48 and a beta of 0.90. The business’s fifty day moving average is $164.60 and its 200 day moving average is $178.82. Snowflake has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, analysts expect that Snowflake will post -1.9 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the transaction, the executive vice president now owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,458 shares of company stock worth $33,785,640. 8.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SNOW. Norges Bank bought a new stake in shares of Snowflake during the 4th quarter valued at about $838,455,000. Vanguard Group Inc. lifted its holdings in Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after buying an additional 1,559,830 shares during the period. FMR LLC boosted its position in Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $226,302,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Snowflake in the 1st quarter worth approximately $171,608,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

About Snowflake

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.