Snowflake (NYSE:SNOW) Coverage Initiated at Needham & Company LLC

Equities research analysts at Needham & Company LLC assumed coverage on shares of Snowflake (NYSE:SNOW) in a research note issued on Monday, Analyst Price Targets reports. The brokerage set a “hold” rating on the stock.

SNOW has been the topic of several other reports. Smith Barney Citigroup increased their target price on shares of Snowflake from $300.00 to $325.00 in a report on Wednesday, January 13th. Barclays dropped their price objective on shares of Snowflake from $295.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 10th. Credit Suisse Group dropped their price objective on shares of Snowflake from $310.00 to $275.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 10th. Evercore ISI began coverage on shares of Snowflake in a research note on Thursday, April 1st. They issued an “outperform” rating and a $311.00 price target on the stock. Finally, Zacks Investment Research cut shares of Snowflake from a “buy” rating to a “hold” rating in a research note on Saturday, February 6th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $286.07.

Shares of SNOW stock opened at $218.40 on Monday. The firm’s 50 day moving average is $230.20 and its 200 day moving average is $272.96. Snowflake has a 12 month low of $205.07 and a 12 month high of $429.00.

Snowflake (NYSE:SNOW) last issued its earnings results on Tuesday, March 2nd. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.53). The business had revenue of $190.50 million for the quarter, compared to analyst estimates of $178.64 million. Snowflake’s revenue was up 117.2% compared to the same quarter last year. As a group, research analysts forecast that Snowflake will post -1.77 EPS for the current year.

In other Snowflake news, Director John Dennis Mcmahon sold 9,090 shares of Snowflake stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $239.00, for a total value of $2,172,510.00. Following the completion of the transaction, the director now directly owns 142,098 shares of the company’s stock, valued at approximately $33,961,422. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Garrett sold 47,186 shares of Snowflake stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $250.00, for a total value of $11,796,500.00. Following the completion of the transaction, the director now directly owns 47,186 shares of the company’s stock, valued at $11,796,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,313,462 shares of company stock worth $295,079,699. 0.24% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Jacobi Capital Management LLC grew its position in shares of Snowflake by 45.3% during the fourth quarter. Jacobi Capital Management LLC now owns 109 shares of the company’s stock worth $31,000 after buying an additional 34 shares in the last quarter. Concentrum Wealth Management grew its position in shares of Snowflake by 4.4% during the fourth quarter. Concentrum Wealth Management now owns 983 shares of the company’s stock worth $277,000 after buying an additional 41 shares in the last quarter. Bank Hapoalim BM grew its position in shares of Snowflake by 3.4% during the first quarter. Bank Hapoalim BM now owns 1,680 shares of the company’s stock worth $385,000 after buying an additional 55 shares in the last quarter. Sowell Financial Services LLC lifted its stake in Snowflake by 56.0% during the fourth quarter. Sowell Financial Services LLC now owns 156 shares of the company’s stock worth $44,000 after purchasing an additional 56 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Snowflake by 1.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,170 shares of the company’s stock worth $1,455,000 after purchasing an additional 60 shares during the last quarter. 23.16% of the stock is owned by institutional investors.

Snowflake Company Profile

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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