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

Snowflake Inc. (NYSE:SNOW) has been given an average recommendation of “Moderate Buy” by the forty-two research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $223.50.

Several research firms have commented on SNOW. JPMorgan Chase & Co. upped their price target on Snowflake from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, May 22nd. Jefferies Financial Group increased their target price on Snowflake from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Scotiabank restated an “outperform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Daiwa Capital Markets assumed coverage on Snowflake in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $208.14 on Friday. The business has a 50 day moving average price of $176.54 and a 200 day moving average price of $170.76. Snowflake has a twelve month low of $107.13 and a twelve month high of $214.83. The company has a market cap of $69.49 billion, a price-to-earnings ratio of -61.40 and a beta of 1.21. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts predict that Snowflake will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 5,027 shares of Snowflake stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $199.06, for a total value of $1,000,674.62. Following the sale, the chief accounting officer now owns 40,608 shares of the company’s stock, valued at $8,083,428.48. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $211.35, for a total value of $85,174.05. Following the completion of the sale, the director now directly owns 25,569 shares in the company, valued at $5,404,008.15. This represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 903,058 shares of company stock worth $170,730,711. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $29,000. CVA Family Office LLC raised its stake in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the 4th quarter valued at about $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.