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

Shares of Snowflake Inc. (NYSE:SNOWGet Free Report) have been given a consensus rating of “Moderate Buy” by the forty-three analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $274.6842.

Several analysts have commented on SNOW shares. KeyCorp upped their price objective on Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Robert W. Baird upped their price target on Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $285.00 price target on shares of Snowflake in a report on Thursday, December 4th. Wells Fargo & Company boosted their price objective on shares of Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $312.00 target price on shares of Snowflake in a report on Thursday, December 4th.

View Our Latest Stock Analysis on Snowflake

Snowflake Stock Performance

Shares of Snowflake stock opened at $172.67 on Friday. The stock has a market capitalization of $59.09 billion, a price-to-earnings ratio of -42.74 and a beta of 1.14. The firm’s fifty day simple moving average is $209.54 and its 200-day simple moving average is $225.37. 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 has a 12 month low of $120.10 and a 12 month high of $280.67.

Snowflake (NYSE:SNOWGet Free Report) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business posted $0.20 earnings per share. Snowflake’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, equities analysts forecast that Snowflake will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total value of $2,601,412.44. Following the completion of the sale, the senior vice president owned 218,020 shares of the company’s stock, valued at approximately $48,060,328.80. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the executive vice president owned 512,450 shares in the company, valued at $127,871,648.50. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 613,681 shares of company stock valued at $130,573,518. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SNOW. Brighton Jones LLC increased its holdings in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Snowflake by 24.0% in the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after purchasing an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of Snowflake during the 2nd quarter worth approximately $262,000. Finally, Concurrent Investment Advisors LLC grew its holdings in Snowflake by 64.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,901 shares of the company’s stock valued at $873,000 after buying an additional 1,525 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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Snowflake Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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