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

Shares of Snowflake Inc. (NYSE:SNOW) have received a consensus rating of “Moderate Buy” from the forty-two ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, thirty-four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $268.2222.

A number of research firms have recently weighed in on SNOW. Morgan Stanley lifted their target price on Snowflake from $262.00 to $272.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. JMP Securities upped their price target on shares of Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada increased their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. KeyCorp boosted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, DA Davidson restated a “buy” rating and set a $250.00 target price on shares of Snowflake in a research note on Monday, August 25th.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the transaction, the executive vice president owned 522,450 shares of the company’s stock, valued at $145,100,038.50. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $257.29, for a total value of $103,687.87. Following the completion of the transaction, the director owned 24,927 shares of the company’s stock, valued at $6,413,467.83. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 221,305 shares of company stock worth $52,925,799 in the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNOW. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at $3,900,134,000. Norges Bank acquired a new position in shares of Snowflake during the second quarter valued at about $944,895,000. Nuveen LLC bought a new position in shares of Snowflake during the 1st quarter worth about $555,847,000. Winslow Capital Management LLC acquired a new stake in shares of Snowflake in the 2nd quarter valued at about $725,667,000. Finally, AQR Capital Management LLC increased its position in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Up 0.9%

Shares of NYSE:SNOW opened at $250.97 on Friday. Snowflake has a 12-month low of $120.10 and a 12-month high of $280.67. The business has a 50 day moving average of $248.96 and a 200-day moving average of $224.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a market cap of $85.03 billion, a PE ratio of -60.47 and a beta of 1.23.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities research analysts forecast that Snowflake will post -2.36 earnings per share for the current year.

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.