Snowflake (NYSE:SNOW) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Snowflake (NYSE:SNOW) in a report released on Monday. The firm issued a buy rating and a $250.00 target price on the stock.

SNOW has been the topic of several other reports. Mizuho boosted their price objective on shares of Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, November 17th. UBS Group reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, December 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, December 4th. Scotiabank restated an “outperform” rating on shares of Snowflake in a report on Thursday, December 4th. Finally, KeyCorp increased their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $275.58.

Snowflake Stock Performance

NYSE:SNOW opened at $220.14 on Monday. Snowflake has a 1-year low of $120.10 and a 1-year high of $280.67. The firm has a market capitalization of $75.33 billion, a price-to-earnings ratio of -54.49 and a beta of 1.14. The company’s 50-day moving average is $237.57 and its two-hundred day moving average is $229.14. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. Analysts forecast that Snowflake will post -2.36 EPS for the current year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the completion of the transaction, the executive vice president directly owned 512,450 shares of the company’s stock, valued at $127,871,648.50. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $11,610,459.70. Following the sale, the director owned 32,756 shares in the company, valued at approximately $7,555,171.40. This trade represents a 60.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 418,681 shares of company stock worth $96,073,145. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake in the second quarter worth approximately $3,900,134,000. Norges Bank purchased a new stake in shares of Snowflake during the 2nd quarter worth $944,895,000. Winslow Capital Management LLC acquired a new position in shares of Snowflake during the second quarter worth $725,667,000. Coatue Management LLC acquired a new position in shares of Snowflake during the third quarter worth $441,277,000. Finally, American Century Companies Inc. increased its holdings in Snowflake by 233.3% in the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock valued at $474,766,000 after buying an additional 1,473,354 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.